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22nd Century downgraded to Neutral from Buy at Alliance Global Partners

Alliance Global Partners analyst Aaron Grey downgraded 22nd Century to Neutral from Buy with a price target of $2.25, down from $3. Data on the progress of VLN cigarettes remains limited, with the company’s legacy tobacco business experiencing its own pressures, the analyst tells investors in a research note. The firm says 22nd’s VLN visibility remains limited as its EBITDA losses continue.

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