UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Harbinger Group on Solid F1Q13 Results
In a report published Monday, Jefferies reiterated its Buy rating on Harbinger Group (NYSE: HRG), and slightly raised its price target from $9.50 to $10.50.
Jefferies noted, “Harbinger reported solid F1Q13 results driven by strength in both the consumer and insurance segments. Importantly, EBITDA within consumer and adjusted income within the insurance segment were both above our expectations. Given the underlying strength of the company's portfolio companies, HRG's NAV has increased and as a result we are increasing our price target to $10.50 (from $9.50).”
Harbinger Group closed on Friday at $8.48.
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