UPDATE: Jefferies Starts Apollo Investment (AINV) at Buy

Jefferies initiated coverage on Apollo Investment (NASDAQ: AINV) with a Buy rating and a price target of $8.50, calling it a top platform, strong ROE and potential NIM expansion.

Analyst Kyle Joseph commented, "We are initiating coverage of Apollo Investment Corporation (AINV) with a Buy rating and an $8.50 price target. Our investment thesis is primarily tied to AINV's strong balance sheet, market positioning and robust ROEs. We forecast NIM expansion producing modest NOI and ROE growth going forward based on a declining COF, and at a discount to NAV, we view the current valuation as an attractive entry point for investors."

For an analyst ratings summary and ratings history on Apollo Investment click here. For more ratings news on Apollo Investment click here.

Shares of Apollo Investment closed at $7.07 yesterday.

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