UPDATE - Barclays Upgrades Apollo Investment Corp (AINV) to Overweight; Improved Visibility on Origination Strategy
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Price: $13.65 --0%
Rating Summary:
5 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Barclays upgrades Apollo Investment Corp (Nasdaq: AINV) from Equalweight to Overweight. PT raised from $7 to $9.
Analyst, Kannan Venkateshwar, said, "Given the change in the company's investment focus last quarter from liquid instruments to private debt, our concern had been a credible origination footprint to support the change in strategy. Last week, the company addressed this concern by announcing a joint investment with Madison Capital, one of the largest middle-market loan originators and an affiliate of New York Life, in a new investment pool of $250MM."
Venkateshwar also sees Apollo's return on equity normalize vs. peers...and AINV's current book value is about the lowest in the sector.
Barclays lower FY12 EPS estimate by $0.01 to $0.89, but raises FY13 from $0.76 to $0.81.
To see more ratings on AINV, Click Here
Analyst, Kannan Venkateshwar, said, "Given the change in the company's investment focus last quarter from liquid instruments to private debt, our concern had been a credible origination footprint to support the change in strategy. Last week, the company addressed this concern by announcing a joint investment with Madison Capital, one of the largest middle-market loan originators and an affiliate of New York Life, in a new investment pool of $250MM."
Venkateshwar also sees Apollo's return on equity normalize vs. peers...and AINV's current book value is about the lowest in the sector.
Barclays lower FY12 EPS estimate by $0.01 to $0.89, but raises FY13 from $0.76 to $0.81.
To see more ratings on AINV, Click Here
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