Oppenheimer analyst Chris Kotowski maintained a Buy rating on New Mountain Finance (NYSE: NMFC) today and set a price target of $15. The company’s shares opened today at $14.10.
Kotowski noted:
“NMFC is one of the more stable and predictable BDCs that we cover and they’ve earned their $0.34 dividend out of net investment income every quarter since they went public in 2010. Thus, we were unsurprised to see that shareholders approved the increase in leverage to 2:1, although we don’t yet have a blueprint from management about exactly how they’d go about it. For the time being we think that’s fine, since the company has both liquidity and financing flexibility, although we are maintaining conservative growth assumptions for our 2019 estimates. NMFC’s long track record of defending their NAV through solid underwriting has made it a top pick, and we continue to recommend the stock.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 11.7% and a 69.8% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for New Mountain Finance with a $15 average price target.
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New Mountain Finance’s market cap is currently $1.07B and has a P/E ratio of 10.93. The company has a Price to Book ratio of 1.04.
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New Mountain Finance Corp. is a private equity fund and close-eneded non-diversified management investment company. It invests in middle-market companies.
