UPDATE: J.P. Morgan Upgrades Blackrock Kelso Capital to Neutral, Raises PT
In a report published Monday, J.P. Morgan & Co. upgraded its rating on Blackrock Kelso Capital (NASDAQ: BKCC) from Underweight to Neutral, and slightly raised its price target from $9.00 to $10.00.
J.P. Morgan noted, “We are upgrading BKCC to Neutral (from Underweight), with a December 2013 price target of $10. We believe BKCC will generate a low-double-digit return in 2013, inclusive of $1.04 in expected dividends. Our incrementally more positive outlook on the company reflects our growing confidence in BKCC's origination platform.”
Blackrock Kelso Capital closed on Friday at $9.98.
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