Analyst Positive as Harbinger (HRG) Sees Strength in Consumer and Insurance

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Last week Harbinger Group (NYSE: HRG) reported solid Q1 results. Commenting on the developments, analyst Daniel T. Fannon of Jefferies pointed out strength in consumer and insurance segments.

"Importantly, EBITDA within consumer and adjusted income within the insurance segment were both above our expectations. Given the underlying strength of the company's portfolio companies, HRG's NAV has increased and as a result we are increasing our price target to $10.50 (from $9.50)," said Fannon.

Jefferies has a Buy rating on Harbinger Group.

For an analyst ratings summary and ratings history on Harbinger Group (NYSE: HRG) click here. For more ratings news on Harbinger Group click here.

Shares of Harbinger Group closed at $8.48 yesterday, with a 52 week range of $4.31-$10.85.

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