Salomon Cuts Tobacco Targets

Analyst Bonnie Herzog says Philip Morris' recent earnings warning confirms her concerns of deteriorating fundamentals

Salomon Smith Barney downgraded the tobacco industry to marketweight from overweight, and cut its price target on Philip Morris (MO ), RJ Reynolds (RJR ) and Loew's Carolina Group (CG ).

To continue reading this article you must be a Bloomberg Professional Service Subscriber.