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Analyst raises target price on Lorillard parent company
Thursday February 22, 9:40 am ET


Citigroup tobacco analyst Bonnie Herzog raised her price target on the common stock of Loews Corp., the parent of Lorillard Tobacco Co., to $55 per share and reiterated her buy rating on the stock.
Herzog said Loews' (NYSE: LTR - News) fourth-quarter performance was better than expected, due to stronger-than-expected results at Lorillard and higher investment income.

Herzog had previously set a target price of $52 on the Loews stock.

"Although Loews' stock continues to outperform, we reiterate our buy rating on the stock, believing it is undervalued," Herzog wrote in a note to investors Wednesday.

Loews shares closed at $44.09 Wednesday.

Published February 22, 2007 by The Business Journal