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"We're positioning it as a modern classic in the consumer space between a combustible cigarette and a vapor product." Wells Fargo analyst Bonnie Herzog agreed with the assessment, noting that while consumer research suggests that intended trial of heat-not-burn products remains similar today as when Reynolds launched Eclipse, repeat purchase intent is nearly five times as high (with 20% of modern consumers intending to purchase non-combustible products more than once, compared to virtually no consumers in the early 2000s)

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Wigner repeatedly emphasized that farmer performance underpins Universals performance