UBS Cuts Price Target on Medley Capital (MCC) Based on Credit and Dividend Stability Fears

UBS maintained a Neutral rating on Medley Capital (NYSE: MCC), and cut the price target to $7.50 (from $9.00), amid credit and dividend stability fears.

Analyst Matthew Howlett commented, "We are lowering our price target to $7.50 from $9 previously, given ongoing concerns regarding MCC's ability to maintain its $0.30 p/s quarterly dividend and continued credit fears. Despite lowering our price target, we are maintaining our Neutral rating given the $30MM share buyback in place, of which management has pledged to complete the remaining $20MM as of 2Q15 (FY3Q15) by calendar year-end."

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

Shares of Medley Capital closed at $7.85 yesterday.

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