Wells Fargo Upgrades BlackRock Kelso (BKCC) to Outperform; Believe Market Has Overreacted To Q4 2010 Earnings Shortfall
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Price: $3.68 --0%
Rating Summary:
3 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo upgraded BlackRock Kelso (NASDAQ: BKCC) from Market Perform to Outperform. Valuation range $11-12.
Wells analyst says, "Our rating on the shares is based on our belief that the market has largely overreacted to a Q4 2010 earnings shortfall. Since the beginning of March, BKCC shares are down relative to the BDC group on a sluggish earnings outlook and lack of dividend coverage. While we believe earnings will likely not cover the dividend near term, we believe that 2011 capital deployment (and subsequent growth in NOI) will lead to an increase in the stock's valuation relative to its peer group as this dividend gap begins to close."
For more ratings news on BlackRock Kelso click here and for the rating history of BlackRock Kelso click here.
Shares of BlackRock Kelso closed at $9.91 yesterday.
Wells analyst says, "Our rating on the shares is based on our belief that the market has largely overreacted to a Q4 2010 earnings shortfall. Since the beginning of March, BKCC shares are down relative to the BDC group on a sluggish earnings outlook and lack of dividend coverage. While we believe earnings will likely not cover the dividend near term, we believe that 2011 capital deployment (and subsequent growth in NOI) will lead to an increase in the stock's valuation relative to its peer group as this dividend gap begins to close."
For more ratings news on BlackRock Kelso click here and for the rating history of BlackRock Kelso click here.
Shares of BlackRock Kelso closed at $9.91 yesterday.
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