UPDATE: Citigroup Reiterates on Jarden Following 4Q EPS Report
In a report published Tuesday, Citigroup analyst Gregory R. Badishkanian reiterated a Buy rating on Jarden (NYSE: JAH), and raised the price target from $64.00 to $71.00.
In the report, Citigroup noted, “JAH reported 4Q EPS of $1.31 (excl -$1.02 of extraordinary items) vs. FC of $1.30 and implied guid of $1.28 to $1.33. Sales were $2.22bn vs. FC of $2.23bn. The co posted organic growth of 4% vs. 5.6% in 3Q13 (excl FX) which was an acceleration on a 2-year basis. GM was up 360bps vs. down 50bps in 3Q, SGA was up 90bps vs. down 50bps YoY in 3Q, and op margin was up 270bps vs. flat in 3Q. We're encouraged by the 4Q performance as well as outlook.”
Jarden closed on Friday at $60.10.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.