UPDATE: Ascendiant Capital Markets Initiates Harris & Harris Group at Buy with $4.50 on Catalysts

Ascendiant Capital Markets initiated its coverage on Harris & Harris Group

with a Buy rating and $4.50 price target Ascendiant Capital Markets commented, "We believe it is likely that several of Harris & Harris's portfolio companies may IPO or be sold soon. Currently, six of its portfolio companies are exploring potential sales or IPOs within the next six to twelve months. This follows five liquidity events (3 sales and 2 IPOs) for its portfolio companies in 2011." Harris & Harris Group closed at $3.71 on Wednesday.