Heritage Global assumed with a Buy at Lake Street

Lake Street analyst Jacob Stephan assumed coverage of Heritage Global (HGBL) with a Buy rating and a price target of $4.50, up from $4. The firm views the current valuation as a “no expectations” type valuation, despite a profitable, cash-generative business with $12.1M in cash post-acquisition and a $7.5M buyback authorization, the analyst tells investors following the company’s Q4 report.