UPDATE: Jefferies Initiates Harbinger Group at Buy on Discounted Valuation
Jefferies initiated coverage on Harbinger Group Inc (NYSE: HRG) with a Buy rating and a $9.50 price target.
Jefferies commented, "HRG is a diversified holding company trading at a discount to its current NAV. HRG's core segments of consumer, insurance and energy all represent stable cash flow generative segments with leverage to an improving economy. Jefferies acted as a Lead Bookrunner in the company's recent secondary offering."
Harbinger Group closed at $7.75 on Tuesday.
Latest Ratings for HRG
|Jan 2013||Jefferies||Initiates Coverage on||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.