David Adelman

In a note published Tuesday morning, Morgan Stanley analyst David Adelman upgraded both Lorillard (NYSE: LO) and Reynolds American (NYSE: RAI). The upgrades come along with a increase to the price target of Lorillard and Reynolds from $57 and $55 to $65 and $56, respectively. Adelman noted...

Monday's pre-market marks the first trading since a Florida jury awarded the widow of a long-time smoker $23.6 billion in punitive damages on top of $16.8 million in compensatory damages in a suit against Reynolds American (NYSE: RAI). Although this decision is likely to be overturned when...

In a report published Tuesday, Morgan Stanley analyst David Adelman downgraded Reynolds American (NYSE: RAI) and Lorillard (NYSE: LO) to Underweight on "unattractive" risk reward for the tobacco companies. A Challenging Industry Outlook Adelman noted that the core industry outlook...