Jarden (JAH) PT Lifted to $76 at Piper Jaffray

Piper Jaffray analyst Stephanie Wissink bumped her price target on Overweight-rated Jarden Corporation (NYSE: JAH) to $76.00 (from $75.00) following solid Q3 results.

Wissink commented, "We are reiterating our Overweight rating and tweaking our estimates following JAH's Q3 report in which sales and EPS were better than expected. By division, sales in the consumer and branded consumables segments were stronger than expected, growing double digits (organically). Sales of outdoor lifestyle products were slightly below our model. We are encouraged by new product adoption by retailers and consumers in addition to well managed expenses, driving improved sales pass through. We see inherent earnings expansion as the company capitalizes on a more diversified channel strategy, leverages investments, and gains share. Our PT moves from $75 to $76 based on the same 17x multiple on our FY15E EPS, which represents a slight discount to a staples and HH products peer group, given a higher discretionary mix of business."

The firm lifted FY 2014 EPS from $3.94 to $3.69 and FY 2015 EPS from $4.42 to $4.46.

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 $62.26 yesterday.

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