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RESEARCH ALERT-UPDATE 1-Credit Suisse cuts US tobacco sector 

Jump to full article: Reuters, 2010-01-19

Intro:

Credit Suisse downgraded the U.S. tobacco sector to "market weight" from "overweight" citing concerns about a more promotional environment and the impact of federal regulation on Newport menthol cigarette maker Lorillard Inc's (LO.N) valuation.

The brokerage, which also cut Lorillard shares to "neutral," said the uncertainty about the U.S. Food and Drug Administration regulation this year reduces the ability of U.S. tobacco companies to improve valuations relative to the market.

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