Jefferies Starts Harbinger Group (HRG) at Buy. $9.50 PT

January 23, 2013 7:51 AM EST
Get Alerts HRG Hot Sheet
Price: $15.63 -0.95%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 13
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Jefferies initiates coverage on Harbinger Group (NYSE: HRG) with a Buy. PT $9.50.

The firm comments, "We are initiating coverage of HRG with a Buy rating and a 12-month price target of $9.50. 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."

NOTE: Jefferies acted as a Lead Bookrunner in the company's recent secondary offering."

For an analyst ratings summary and ratings history on Harbinger Group click here. For more ratings news on Harbinger Group click here.

Shares of Harbinger Group closed at $7.75 yesterday.

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