UPDATE: Jefferies Starts PennantPark Investment (PNNT) at Hold

Jefferies initiated coverage on PennantPark Investment (NASDAQ: PNNT) with a Hold rating and a price target of $9.50.

Analyst John Hecht comments, "We are initiating on PennantPark Investment Corporation with a Hold rating and a $9.50 price target. While we appreciate PNNT's tenured history of strong credit performance and the company's attractive dividend yield, we remain on the sidelines as we monitor the company's 14% energy exposure, and given that recurring earnings need to climb to cover the dividend."

For an analyst ratings summary and ratings history on PennantPark Investment click here. For more ratings news on PennantPark Investment click here.

Shares of PennantPark Investment closed at $8.83 yesterday.

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