Skip to main content

Market Overview

UPDATE: Jefferies Initiates Coverage on Nortek on Fair Valuation

Share:

In a report published Thursday, Jefferies analyst Philip Ng initiated coverage on Nortek (NASDAQ: NTK) with a Hold rating and $73.00 price target.

In the report, Jefferies noted, “While we like the management changes and operational improvements NTK is undertaking, we are initiating coverage with a Hold rating. Given the lack of liquidity in the stock, high leverage, and the shares trading only at a modest discount to the group, we believe NTK is fairly valued. That said, we have a positive bias in the name and would revisit the idea on a pullback, and when we get better clarity on the restructuring initiative.”

Nortek closed on Wednesday at $68.88.

Latest Ratings for NTK

DateFirmActionFromTo
May 2016JefferiesMaintainsHold
Jul 2015JefferiesMaintainsHold
Mar 2015Imperial CapitalUpgradesIn-LineOutperform

View More Analyst Ratings for NTK
View the Latest Analyst Ratings

 

Related Articles (NTK)

View Comments and Join the Discussion!

Posted-In: Jefferies Philip NgAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
BEJP MorganUpgrades36.0
NEXACredit SuisseUpgrades11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com