Wells Fargo Starts TICC Capital (TICC) at Market Perform; Shares Likely Rangebound

Wells Fargo initiates coverage on TICC Capital (NASDAQ: TICC) with a Market Perform. PT rangte $9.00-9.50.

Analyst, Joel Houck, said, "We initiated coverage on TICC with a MP rating based on our belief that the market has largely priced in several investment catalysts, including (1) potential portfolio growth stemming from additional leverage and (2) a moderate increase in CLO distributions. Moreover, we believe TICC’s higher-risk CLO investment strategy will also limit near-term upside in the face of a potential economic slowdown. Our 2012 and 2013 NOI per share estimates are $1.08 and $1.09, respectively."

For an analyst ratings summary and ratings history on TICC Capital click here. For more ratings news on TICC Capital click here.

Shares of TICC Capital closed at $9.34 yesterday.

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