Rising Cigarette Taxes Can't Keep Lorillard Down

Filed under: Analyst Upgrades and Downgrades, Stocks to Buy

Even with cigarette taxes jumping in multiple states across the country, cigarettes and cigarette stocks are still attracting plenty of buyers.



One cigarette maker that stands to benefit from this renewed interest is Lorillard, Inc. (LO) -- maker of Newport and Maverick brands. In fact, Goldman Sachs is so convinced that Lorillard is going to be moving higher that it added the stock to its conviction buy list and gave the stock a 12-month price target of $96.



With a current dividend yield of 5.37%, Lorillard is an attractive play for both income and growth investors. Lorillard currently faces some resistance from its 200-day moving average at $75, but once it breaks through this level, I anticipate seeing the stock climb to its recent highs of $82 within the next few months.

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Rising Cigarette Taxes Can't Keep Lorillard Down originally appeared on BloggingStocks on Mon, 12 Jul 2010 17:30:00 EST. Please see our terms for use of feeds.

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Cigarette - Newport - Lorillard Tobacco Company - Goldman Sachs - BloggingStocks

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