Wells Fargo Starts Medley Capital (MCC) at Outperform; Attractive Play in Tightening Spread Environment

Wells Fargo initiates coverage on Medley Capital (NYSE: MCC) with an Outperform. PT range $12.50-$13.50.

Analyst, Joel Houck, said, "We have initiated coverage of Medley Capital with an Outperform rating based on (1) the stock’s attractive valuation at 0.90x net asset value (NAV) and 10% expected dividend yield, (2) the potential meaningful net operating income (NOI) growth via SBIC debt WITHOUT near-term equity issuance, and (3) the company’s niche focus on smaller (often non-sponsored) debt investments."

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

Shares of Medley Capital closed at $10.87 yesterday.

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