UPDATE: Stifel Nicolaus Initiates Houghton Mifflin Harcourt, Publishing Recovery Outlook Positive

In a report published Tuesday, Stifel Nicolaus analyst David Pang initiated coverage on Houghton Mifflin Harcourt Co. (NASDAQ: HMHC ) With a Buy rating on the shares and a $21.00 price target. According to the report, “As a leading provider of U.S.-based preK-12 educational solutions, we see Houghton Mifflin Harcourt