[Headlines Only] [Top Stories Only]
Categories
· Business (Tobacco)
· Lawsuits
· Investing
Organizations
· RJR
· UST

RESEARCH ALERT-Merrill cuts UST, R.J. Reynolds ratings 

Jump to full article: Reuters, 2002-10-03

Intro:

Merrill Lynch on Thursday said it lowered its rating on tobacco companies UST Inc. (NYSE:UST) and R.J. Reynolds Tobacco Holdings Inc. (NYSE:RJR) to "neutral" from "buy," citing UST's exposure to an upcoming trial and R.J. Reynolds' vulnerability to price competition.

Analyst Martin Feldman said in a research note that if the company were to lose the "McMullin" tobacco liability case, expected to go to trial in Florida this month, investors could decide that smokeless tobacco company UST is not less vulnerable to litigation risk than cigarette makers.

Jump to full article »