Credit Suisse Raises Target on Jarden Amid Attractive Value, Potential

In a report published Monday, Credit Suisse analyst Michael Steib raised estimated and the price target on Jarden Corporation JAH from $62.00 to $72.00. Steib noted that Jarden "has considerable potential to further improve its operating margin," especially following the Yankee Candle acquisition. The analyst commented that the base business has additional scope for overhead cost, supply chain, and cost savings. Credit Suisse added that they expect the company to refocus on cash returns to shareholders in the second half of FY14. The analyst raised FY15 EPS estimate from $4.37 to $4.47. Steib reported that valuation continues to be attractive and believes "the next milestone could be the company's likely announcement of its next longer-term financial targets in February 2014, now that the previous set of targets has been achieved and the YC acquisition is completed." Shares of Jarden Corp. closed at $62.06 on Friday.