Ladenburg Thalmann Reiterates Buy On PennantPark Investment (PNNT)

Ladenburg Thalmann is reiterating its Buy rating and $12 price target on PennantPark Investment Corp. PNNT. In a note to clients, Ladenburg Thalmann writes, "We continue to believe PennantPark's strong management team, low leverage, and recent portfolio growth should allow the company to over-earn our expected distributions. We view PNNT shares as attractively valued with a projected 10.2% dividend yield and 1.01x P/B. We reiterate our price target of $12 and our rating of BUY."