In a report released today, Timothy P. Hayes from B.Riley FBR maintained a Buy rating on WhiteHorse (NASDAQ: WHF), with a price target of $14.50. The company’s shares opened today at $12.24.
Hayes said:
“We are initiating coverage of WhiteHorse Finance, Inc. (WHF) with a Buy rating and a 12- month price target of $14.50 per share, which suggests a potential total return opportunity of approximately 28%. Following the announced sale of Aretec, one of WhiteHorse’s portfolio companies in which it owns a large equity stake, we believe NAV is poised to increase in 3Q18 (barring any other negative credit events), indicating that the shares are trading at an even greater discount than they appear today. More importantly, we believe NII and the dividend stand to benefit as the proceeds from the Aretec sale are accretively redeployed over the next several quarters into interest-earning assets, warranting additional upside to our estimates and price target upon execution.”
According to TipRanks.com, Hayes is a 3-star analyst with an average return of 5.7% and a 75.0% success rate. Hayes covers the Financial sector, focusing on stocks such as Ready Capital Corporation, Saratoga Investment Corp, and Cherry Hill Mortgage.
Currently, the analyst consensus on WhiteHorse is a Moderate Buy with an average price target of $15.25.
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The company has a one-year high of $15.80 and a one-year low of $10.92. Currently, WhiteHorse has an average volume of 34.86K.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock.
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WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States.
