UPDATE: Jefferies Reiterates On Jarden On More Viable Bull Case

In a report published Monday, Jefferies analyst Kevin Grundy reiterated a Buy rating on

, and raised the price target from $49.00 to $55.00. In the report, Jefferies noted, “We raise our PT to $55 (25% potential upside) and add JAH to Jefferies Franchise Picks as our analysis suggests: (i) sustainably higher org sales growth given the potential to double Yankee's revs over the next 6-7 years; and (ii) scope for c. > 250 bps of margin improvement through FY18. These two under-appreciated value drivers make our bull case more likely and warrant a higher multiple. The Franchise Picks list highlights JEF's top ideas across sectors.” Jarden closed on Friday at $44.15.