DA Davidson Upgrades Jarden Corporation (JAH) to Buy; Mgmt's Aggressive Actions and Improving Conditions Offer More Confidence
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Price: $58.97 --0%
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
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DA Davidson upgraded Jarden Corporation (NYSE: JAH) from Neutral to Buy, price target raised from $37 to $48.
DA analyst says, "We have been Neutral on Jarden due to our concerns that organic growth would fall below long-term targets and shares lacked a catalyst for material valuation improvement. Despite unfavorable weather and a troubled European economy, organic growth still topped 3.0% in 2011. This surpassed our expectations and gave us confidence that 3.0% plus organic growth can continue into 2012. Additionally, after management’s proactive actions to improve the share price (tender offer), we believe we have been underestimating the value of Jarden’s consistently strong cash generation and have been overly conservative on valuation."
"Our 2012 estimates go from revenue of $6.756 billion and EPS of $3.75 to $6.811 billion and $4.16, respectively. Our 2013 estimates go from revenue of $6.963 billion and EPS of $4.13 to $7.022 billion and $4.78, respectively."
For an analyst ratings summary and ratings history on Jarden Corporation click here. For more ratings news on Jarden Corporation click here.
Shares of Jarden Corporation closed at $37.35 yesterday.
DA analyst says, "We have been Neutral on Jarden due to our concerns that organic growth would fall below long-term targets and shares lacked a catalyst for material valuation improvement. Despite unfavorable weather and a troubled European economy, organic growth still topped 3.0% in 2011. This surpassed our expectations and gave us confidence that 3.0% plus organic growth can continue into 2012. Additionally, after management’s proactive actions to improve the share price (tender offer), we believe we have been underestimating the value of Jarden’s consistently strong cash generation and have been overly conservative on valuation."
"Our 2012 estimates go from revenue of $6.756 billion and EPS of $3.75 to $6.811 billion and $4.16, respectively. Our 2013 estimates go from revenue of $6.963 billion and EPS of $4.13 to $7.022 billion and $4.78, respectively."
For an analyst ratings summary and ratings history on Jarden Corporation click here. For more ratings news on Jarden Corporation click here.
Shares of Jarden Corporation closed at $37.35 yesterday.
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