Wells Fargo Cuts its Price Valuation Range on Solar Capital (SLRC) Following Recent BDC Scorecard Assessment

Wells Fargo is reiterating its Outperform rating on shares of Solar Capital (NASDAQ: SLRC), but is lowering its valuation range from $27-$28 to $26-$27 based on its recent BDC Scorecard assessment.

Due to a slight decline in the potential dividend upside factor and the firm recently lowering its 2012 NOI estimate of $2.42, it past valuation was to high.

Wells Fargo believes that SLRC is well positioned to capitalize on attractive investment opportunities considering solid balance sheet and liquidity position. It forecasts that NII per share and NAV per share will exhibit strong growth in 2011.

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

Shares of Solar Capital closed at $25.07 yesterday.

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