JMP Securities Starts Bain Capital Specialty Finance (BCSF) at Market Perform

JMP Securities analyst Christopher York initiates coverage on Bain Capital Specialty Finance (NYSE: BCSF) with a Market Perform rating.

The analyst comments "Our rating is predicated on a view that shares are fairly valued relative to a peer group of publicly-traded BDCs today, and there is no identifiable catalyst in our outlook to drive price appreciation in the stock to a total return required to outperform the equity market. That said, we acknowledge that: 1) a return expectation of 8-9% with liquidity may be suitable for some non-traditional public equity investor's (i.e., insurance companies, pension funds, and/or endowments) asset allocations, given either a lower actuarial absolute required return of (e.g., 7- 8%) or the application of relative value to a fixed income benchmark, such as high-yield indices; and 2) the expiration of the company's IPO lock up on May 13 could result in a more attractive entry spot for investors."

For an analyst ratings summary and ratings history on Bain Capital Specialty Finance click here. For more ratings news on Bain Capital Specialty Finance click here.

Shares of Bain Capital Specialty Finance closed at $20.19 yesterday.

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