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Leucadia shares could gain as Jefferies, National Beef rebound -Barron's
2017年7月23日 / 晚上7点27分 / 4 个月前

Leucadia shares could gain as Jefferies, National Beef rebound -Barron's

NEW YORK, July 23 (Reuters) - Shares of Leucadia National Corp stand to rise about 15 percent as some of the conglomerate’s key holdings bounce back, according to a Barron’s article published on Sunday.

The bump could come as investment bank Jefferies Group LLC, which Leucadia bought in 2012, rebounds from a slump in oil prices and related bonds that hit the firm’s commodities and bond units.

The bank shed nearly $5 billion in assets from 2015 to 2016 and also hired dozens of senior investment bankers to bolster capabilities in China and other markets.

Jefferies reported earnings of $138.8 million for the six months ended in May compared to a $113 million loss last year, Barron’s said.

Shares of Leucadia, which has holdings ranging from real estate to mining, closed at $26.45 on Friday. Investors say the stock is worth $30 or more, Barron’s reported.

Leucadia will also likely be helped by a brightening outlook for National Beef Packing Company, of which it holds a 79 percent position, Barron’s said.

The fourth-largest U.S. beef processor also recently reported a sharp increase in earnings compared to a year earlier, when sales were hit by a drop in American beef consumption and losing a top contract with Wal-Mart Stores Inc . (Reporting by Laila Kearney; Editing by Meredith Mazzilli)

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