Solar Capital Ltd (SLRC) received a Buy rating and a $23 price target from Oppenheimer analyst Allison M. Taylor today. The company’s shares closed yesterday at $21.01.
Taylor said:
“We are initiating on SLRC with an Outperform rating and a $23 price target. What differentiates the Solar platform from other BDC managers is that in addition to making sponsor-backed cash flow loans to small companies—what we normally think of as traditional BDC direct lending—Solar’s BDCs take majority equity stakes in specialty finance lenders directly on its balance sheet, using the 30% “non-qualifying asset” bucket. Solar also has a strong origination platform in life sciences, a sector that has a strong secular backdrop and a high demand for capital. We believe these specialty lending capabilities allow SLRC to achieve superior risk-adjusted returns and provide a favorable and differentiated risk profile compared to other BDCs.”
According to TipRanks.com, Taylor is a 1-star analyst with an average return of -4.2% and a 40.0% success rate. Taylor covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and Ares Capital Corp.
The the analyst consensus on Solar Capital Ltd is currently a Hold rating.
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The company has a one-year high of $22.05 and a one-year low of $19.70. Currently, Solar Capital Ltd has an average volume of 80.76K.
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Solar Capital Ltd. is a closed-ened, externally managerd, non-diversified management investment company. The firm invests in in privately held U.S. middle-market companies. Its objective is to generate both current income and capital appreciation through debt and equity investments.
