Wunderlich Securities Initiates Coverage on Kayne Anderson (KYN) with a Buy; Compelling Valuation
More News related to KYN
- Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at January 31, 2010
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Wunderlich Securities initiates coverage on Kayne Anderson (NYSE: KYN) with a Buy rating. Price target $24.
Wunderlich analyst says, "We expect KYN shares to produce an above-average total return due to an expected stable distribution; expected appreciation in, and solid underlying fundamentals in, the master limited partnerships (MLPs) in which the fund invests; a strong management team, and conservative leverage. KYN's ~9.4% tax-deferred yield presents a very compelling total return prospect, in our view. Our enthusiasm is somewhat muted by an aggressive payout ratio and a 12% premium to net asset value (NAV) that may give some investors pause in the short run."
To see more analyst ratings on KYN Click Here.
Kayne Anderson MLP Investment Company is a closed ended equity mutual fund launched and managed by KA Fund Advisors, LLC.
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