In a report published Tuesday, Jefferies analyst Philip Ng reiterated a Hold rating on Nortek NTK, and raised the price target $74.00 to $76.00.
In the report, Jefferies noted, “We are adjusting our estimates to reflect a lower future share count following clarification on potential dilution from NTK's warrants, and also see lower interest expense in 2015 from a likely refinance of its 10% bond once it becomes callable in December 2014.”
Nortek closed on Monday at $71.92.
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