Runway Grouwth Finance Corp. (RWAY) PT Lowered to $12.75 at Compass Point, 'will be difficult to sustain a P/NAV at any premium to NAV'

Compass Point analyst Casey Alexander lowered the price target on Runway Grouwth Finance Corp. (NASDAQ: RWAY) to $12.75 (from $13.50) while maintaining a Buy rating.

The analyst commented: "The current NAV is $13.50 per share. With the 4Q24 NAV decline and the overhang of selling shareholder Oaktree, we believe it will be difficult for RWAY to sustain a P/NAV at any premium to NAV, and we have therefore assigned RWAY a P/NAV multiple of 0.95X. Using our forward 4- quarter estimate of NAV of $13.54 and applying our 0.95x P/NAV target, we arrive at our price target of $12.75 (decreased from $13.50). We reiterate our Buy rating on RWAY because we believe that long-term when the portfolio is stabilized and the Oaktree overhang is removed, RWAY will eventually move to a valuation more in line with the peer group. "

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities
• Indigo Paints (INDIGOPN:IN) PT Raised to INR1,300 at ICICI Securities