UPDATE: Jefferies Initiates Harbinger Group at Buy on Discounted Valuation

Jefferies initiated coverage on Harbinger Group Inc HRG with a Buy rating and a $9.50 price target. Jefferies commented, "HRG is a diversified holding company trading at a discount to its current NAV. HRG's core segments of consumer, insurance and energy all represent stable cash flow generative segments with leverage to an improving economy. Jefferies acted as a Lead Bookrunner in the company's recent secondary offering." Harbinger Group closed at $7.75 on Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorInitiationPre-Market OutlookAnalyst RatingsJefferies
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!