UPDATE: Goldman Sachs Initiates Coverage on Jarden Corp. with Neutral Rating, $49 PT on Fair Risk/Reward

In a report published Tuesday, Goldman Sachs analyst Taposh Bari initiated coverage on

with a Neutral rating and $49.00 price target. In the report, Goldman Sachs noted, “We like JAH for its diverse portfolio of niche consumer brands, but more so for its management team that has a track record of creating shareholder value. Over the past decade, the team of Chairman Martin Franklin, CFO Ian Ashken and CEO Jim Lillie has proven able to consistently convert a GDP levered portfolio into 15% annualized share returns over the past decade, well ahead of WMT +5% and S&P 400 +7%. We launch Neutral-rated on fair risk/reward but could become more constructive on a pullback.” Jarden Corp. closed on Monday at $42.89.