Janney Montgomery Scott Downgrades Main Street Capital (MAIN) to Neutral; Benefit Largely Reflected in Valuation
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Price: $30.62 -1.73%
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MAIN Now!
Janney Montgomery Scott downgraded Main Street Capital (NASDAQ: MAIN) from Buy to Neutral. PT $18.
JMS analyst says, "Main Street announced today that it has received a commitment for an incremental $15 million under its credit facility. While we view the news as positive and believe it reflects the strength of the company's platform, current valuation largely reflects the company's growth potential and we are lowering our rating to NEUTRAL."
"MAIN shares have appreciated strongly over the past four months, up 21% since September 20th versus up 11% for the S&P 500 and up 11% for the RIC/BDC sector. Resumption of dividend payments by Main Street's portfolio companies provides significant upside to NII (Nasdaq: NIHD), and the expansion into investment management is a significant increase to the scope of Main Street and could potentially be a source of attractive long-term growth. However, this is largely reflected in the company's current premium valuation."
For more ratings news on Main Street Capital click here and for the rating history of Main Street Capital click here.
Shares of Main Street Capital closed at $16.55 yesterday, with a 52 week range of $10.45-$18.50.
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JMS analyst says, "Main Street announced today that it has received a commitment for an incremental $15 million under its credit facility. While we view the news as positive and believe it reflects the strength of the company's platform, current valuation largely reflects the company's growth potential and we are lowering our rating to NEUTRAL."
"MAIN shares have appreciated strongly over the past four months, up 21% since September 20th versus up 11% for the S&P 500 and up 11% for the RIC/BDC sector. Resumption of dividend payments by Main Street's portfolio companies provides significant upside to NII (Nasdaq: NIHD), and the expansion into investment management is a significant increase to the scope of Main Street and could potentially be a source of attractive long-term growth. However, this is largely reflected in the company's current premium valuation."
For more ratings news on Main Street Capital click here and for the rating history of Main Street Capital click here.
Shares of Main Street Capital closed at $16.55 yesterday, with a 52 week range of $10.45-$18.50.
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