Aegis Capital Starts Manhattan Bridge Capital Inc (LOAN) at Hold
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Aegis Capital analyst Benjamin Zucker initiates coverage on Manhattan Bridge Capital Inc (NASDAQ: LOAN) with a Hold rating and a price target of $6.35.
The analyst comments "We initiate coverage with a “Hold” rating due to the company’s existing premium valuation (P/TBV of 1.83x vs. peers at 1.05x). To be sure, we believe LOAN warrants a significant valuation premium relative to other hard-money bridge lenders because the company generates superior returns while using less leverage."
Shares of Manhattan Bridge Capital Inc closed at $6.27 yesterday.
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