UPDATE: Deutsche Bank Reinstates Buy, $14.50 PT on THL Credit Post Q2
Deutsche Bank reinstated its coverage on THL Credit (NASDAQ: TCRD) with a Buy rating and a price target of $14.50.
Deutsche Bank commented, "TCRD reported solid 2Q results and increased the dividend to 32c per share. We are reinstating our Buy rating and price target of $14.50 per share, as we expect new investments to drive sequential earnings and dividend growth in 4Q12 and 1H13. At 6/30, TCRD had $122 million of available liquidity for new investments. Our estimates, rating and target were suspended in April due to the external manager's acquisition of McDonnell Investment's ACS Group."
THL Credit closed at $13.40 on Monday.
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