NEW YORK (TheStreet) -- Jarden Corp. (JAH)  stock was downgraded to "hold" from "neutral" from analysts at Piper Jaffray earlier today who said that the rating change is "largely tactical."

The firm, which has a price target of $60, noted that the merger with Newell Rubbermaid (NWL) is moving along as planned with the last remaining external event expected to occur next week.

Ahead of the combination, Jarden stock remains fairly valued, analysts noted.  

Last December, Newell Rubbermaid announced that it would acquire Jarden for $15.4 billion.

Despite the rating cut, "We favor the combination of leadership talent, with Newell bringing a robust commercialization, brand enhancement and cost alignment process," analysts said.

Shares are rallying 1.31% to $59.44 on Friday morning. 

Based in Boca Raton, FL, Jarden manufactures, markets, and distributes consumer products worldwide.

Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C+.

he primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.

You can view the full analysis from the report here: JAH