MLV Assigns Buy On Prospect Capital Shares, 11.50 PT
In a research report issued today, MLV analyst Christopher Nolan assigned a Buy rating on Prospect Capital Corp. (NASDAQ:PSEC) with a price target of $11.50, which represents a potential upside of 20% from where the stock is currently trading.
Nolan noted, “We anticipate quarterly EPS will be in-line with the consensus mean of $0.28 and the key issue will be clarification on PSEC’s strategy to improve investment yields above 12% on a long-term basis in order to secure the current dividend payout. We continue to believe the current dividend is secure through fiscal 2015 (ending June 30, 2015); however, to sustain the dividend beyond then will likely require some change in the investment mix.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Nolan has a total average return of 14.3% and a 100.0% success rate. Nolan is ranked #2128 out of 3354 analysts.