Wells Fargo Starts THL Credit (TCRD) at Outperform; SBIC To Drive NOI/Dividends

Wells Fargo initiates coverage on THL Credit (NASDAQ: TCRD) with an Outperform. PT range $14.50-$15.50.

Analyst, Joel Houck, said, "We are initiating coverage of TCRD with an Outperform rating based on (1) the stock’s attractive valuation at 0.98x NAV and
10% expected dividend yield (on 2013 estimates); (2) meaningful net operating
income (NOI) growth potential via small business investment company (SBIC)
debt; (3) the company’s niche focus on smaller (often non-sponsored) debt; (4) a
“best in class” management fee, and (5) near-term NOI growth associated with
TCRD’s Greenway Fund."

For an analyst ratings summary and ratings history on THL Credit click here. For more ratings news on THL Credit click here.

Shares of THL Credit closed at $12.48 yesterday.

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