Deutsche Bank Starts Prospect Capital Corporation (PSEC) at Buy

December 20, 2013 7:11 AM EST Send to a Friend
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Price: $8.64 +0.12%

Rating Summary:
    4 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Deutsche Bank initiates coverage on Prospect Capital Corporation (NASDAQ: PSEC) with a Buy. PT $12.25.

"We are initiating coverage on Prospect Capital with a Buy rating, as we expect the portfolio to continue generating attractive ROEs with strong credit results," analyst Stephen Laws states. "We believe PSEC's portfolio is well-positioned given the diversification across industries and should benefit from increasing short-term rates, as the investment portfolio is largely floating-rate and is funded with largely fixed-rate financing. We expect the company to finance future portfolio growth through its ATM program and InterNotes offerings. We are establishing a price target of $12.25 per share, which is based on shares trading at a 15% premium to NAV."

For an analyst ratings summary and ratings history on Prospect Capital Corporation click here. For more ratings news on Prospect Capital Corporation click here.

Shares of Prospect Capital Corporation closed at $11.22 yesterday.


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