UPDATE: Goldman Sachs Initiates Jarden at Neutral on Fair Risk/Reward
In a report published Tuesday, Goldman Sachs analyst Taposh Bari initiated coverage on Jarden (NYSE: JAH) 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 closed on Monday at $42.89.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.