UPDATE: Jefferies Reiterates on Nortek on Updated Estimates to Reflect Lower Share Count and Interest

In a report published Tuesday, Jefferies analyst Philip Ng reiterated a Hold rating on Nortek (NASDAQ: NTK), and raised the price target $74.00 to $76.00.

In the report, Jefferies noted, “We are adjusting our estimates to reflect a lower future share count following clarification on potential dilution from NTK's warrants, and also see lower interest expense in 2015 from a likely refinance of its 10% bond once it becomes callable in December 2014.”

Nortek closed on Monday at $71.92.