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UPDATE: Stifel Nicolaus Raises PT to $10 on KCAP Financial on Dividend Increase

Related KCAP
Ex-Dividends For July 1, 2014
Earnings Scheduled For March 12, 2014

Stifel Nicolaus reiterated its Buy rating on KCAP Financial (NASDAQ: KCAP) and raised its price target from $9.50 to $10.

Stifel Nicolaus commented, "KCAP continues to benefit from the healing of the credit markets and we believe their investment platform is headed in the right direction. We view KCAP's business model as a “barbell” approach that includes a balance sheet portfolio of middle market loans (similar to other BDCs but with lower yields) and an in-house CLO manager that provides high earnings through CLO equity ownership and CLO management fees. The reemergence of the middle market CLO industry along with KCAP's acquisition of Trimaran in February 2012 positions KCAP very well in our opinion."

KCAP Financial closed at $9.33 on Monday.

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

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