UPDATE: Baird Equity Research Initiates Coverage on Jason Industries On Positive Outlook

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In a report published Thursday, Baird Equity Research analyst Mircea Dobre initiated coverage on

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Jason Industries, Inc.

(NASDAQ: JASN) with an Outperform rating and $10.00 price target.In the report, Baird Equity Research noted, "JASN is a diversified industrial manufacturer benefiting from an attractive combination of organic growth, growth through acquisition and margin expansion potential. The company generates significant free cash flow (yield in the high-teens percent), underscoring the near- as well as long-term opportunity for share appreciation. Unlike many industrial companies, JASN has outsized U.S. and consumer exposure (~70% of revenue), providing a differentiated investment profile for small-cap industrial investors."Jason Industries closed on Wednesday at $6.80.