UPDATE: Jefferies Downgrades Lorillard On "Underwhelming" e-cigarette Performance

In a report published Thursday, Jefferies analyst Thilo Wrede downgraded Lorillard (NYSE: LO ) from Buy to Hold and lowered the price target from $54.00 to $51.00. Wrede noted Lorillard's "underwhelming" performance of the recently launched Newport Gold and the uncertainty of the e-cigarette profit outlook. The analyst commented, "While