FBR Capital Reiterates an 'Outperform' on Fifth Street Finance (FSC); Recent Pullback Presents Buying Opportunity
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Price: $5.63 --0%
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on Fifth Street Finance (NYSE: FSC), PT $14.50.
FBR analyst says, "Our rating on FSC shares reflects our view that the company is well positioned to capitalize on the growth opportunity ahead for the BDC industry driven by sustained strength in middle market M&A activity. We believe that investors will accord FSC shares a premium valuation given such growth opportunities; a predominant first-lien and floating-rate portfolio sets up the portfolio well for longer-term outperformance as interest rates rise."
"We are reducing our FY11 and FY12 NOI estimates to $1.08 (from $1.11) and $1.20 (from $1.27) to reflect the convertible notes."
For more ratings news on Fifth Street Finance click here and for the rating history of Fifth Street Finance click here.
Shares of Fifth Street Finance closed at $12.26 yesterday.
FBR analyst says, "Our rating on FSC shares reflects our view that the company is well positioned to capitalize on the growth opportunity ahead for the BDC industry driven by sustained strength in middle market M&A activity. We believe that investors will accord FSC shares a premium valuation given such growth opportunities; a predominant first-lien and floating-rate portfolio sets up the portfolio well for longer-term outperformance as interest rates rise."
"We are reducing our FY11 and FY12 NOI estimates to $1.08 (from $1.11) and $1.20 (from $1.27) to reflect the convertible notes."
For more ratings news on Fifth Street Finance click here and for the rating history of Fifth Street Finance click here.
Shares of Fifth Street Finance closed at $12.26 yesterday.
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