FBR Capital Reiterates a 'Market Perform' on American Capital (ACAS); 1Q11 Recap: NAV Jumps 12%, Again!

FBR Capital reiterates a 'Market Perform' on American Capital (NASDAQ: ACAS), PT increased from $10 to $12.

FBR analyst says, "While ACAS shares will likely trade at a discount to peers (1.1x) in the absence of a cash dividend and higher equity investments, the rapid growth in book value (12% in each of the last two quarters) far outpaces peers. With the potential for another $1.25 per share of NAV accretion from writing up asset values, we have a positive bias toward the shares and could reconsider our rating on any pullback. In our view, ACAS remains a high beta value play that is levered to an improvement in the overall economy."

For more ratings news on American Capital click here and for the rating history of American Capital click here.

Shares of American Capital closed at $10.55 yesterday.

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