Davenport Upgrades Gladstone Capital (GLAD) to Buy; Valuation is Compelling
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- Davenport Upgrades Gladstone Capital (GLAD) to Buy; Valuation is Compelling
Davenport upgrades Gladstone Capital Corp. (NASDAQ: GLAD) to Buy. Price target $10.
Davenport analyst says, "We feel the worst is behind Gladstone and that the current 10.7% dividend yield is sustainable. While asset quality remains a major wildcard in the current economic environment, we feel the trends at GLAD are likely to remain reasonably stable. We project earnings that fully support the current dividend from net investment income and provide a small margin for additional non-accruals. We also are getting more optimistic about GLAD’s potential to obtain a license to operate a Small Business Investment Company (SBIA)...The balance sheet appears in reasonable shape post the recent downsizing...The valuation is compelling, but not without risks."
To see more analyst ratings on GLAD Click Here.
Gladstone Capital Corporation is a business development company and operates as a closed-end non-diversified management investment company.
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