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Jefferies Maintains Their Buy Rating on Icahn Enterprises (IEP)

Jefferies analyst Daniel Fannon maintained a Buy rating on Icahn Enterprises (IEPResearch Report) today and set a price target of $70.00. The company’s shares closed last Monday at $54.74.

According to TipRanks.com, Fannon is a 5-star analyst with an average return of 12.3% and a 68.7% success rate. Fannon covers the Financial sector, focusing on stocks such as Intercontinental Exchange, WisdomTree Investments, and Janus Henderson Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Icahn Enterprises with a $70.00 average price target.

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Icahn Enterprises’ market cap is currently $15.08B and has a P/E ratio of -25.43.

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Icahn Enterprises LP operates as holding company. It operates through following business ten segments: Investment, Automotive, Energy, Railcar, Food Packaging, Metals, Real Estate, Home Fashion, Railcar and Mining. The Investment segment is comprises of various private investment funds. The Automotive segment holds ownership in Icahn Automotive Group LLC. The Energy segment holds ownership in CVR Energy, Inc., which owns majority interests in two separate operating subsidiaries, CVR Refining, LP and CVR Partners, LP. The Railcar segment holds ownership in American Railcar Industries Inc., which is a manufacturer of hopper and tank railcars. It provides fleet management, maintenance, engineering and field services. The American Railcar Industries services include maintenance planning, project management, tracking and tracing, regulatory compliance, mileage audit, rolling stock taxes and online service access. The Food Packaging segment holds ownership in Viskase Cos., Inc., which is engaged in production and sale of cellulosic, fibrous and plastic casings for the processed meat and poultry industry. The Metals segment operates through company indirect wholly owned subsidiary, PSC Metals, Inc., which engages in the business of collecting, processing and selling ferrous and non-ferrous metals, as well as the processing and distribution of steel pipe and plate products in the Midwest and Southern U.S. The Real Estate segment consists of rental real estate, property development and resort activities. The Home Fashion segment operates through company indirect wholly owned subsidiary WestPoint Home LLC, which consists of manufacturing, sourcing, marketing, distributing and selling home fashion consumer products. The Railcar segment holds ownership in American Railcar Leasing, LLC, which operates leasing business consisting of purchased railcars leased to third parties under operating leases. The Mining segment holds interest in Ferrous Resources Ltd, which acquires and develops mining operations and related infrastructure to produce and sell iron ore products to the global steel industry. The company was founded on February 17, 1987 and is headquartered in New York, NY.

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