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UPDATE: Jefferies Initiates Harbinger Group at Buy on Discounted Valuation

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UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Harbinger Group on Solid F1Q13 Results

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.

Posted-In: JefferiesAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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