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UPDATE: Citigroup Initiates WhiteHorse Finance at Buy on Yield, Valuation

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Citigroup initiated coverage on WhiteHorse Finance (NASDAQ: WHF) with a Buy rating and a $16 price target.

Citigroup commented, "While peers have cited looser credit standards and tighter spreads over the last 12 months, WHF should be able to maintain attractive yields given their small-cap, private company focus. We also like that WHF is able to pay a dividend out of the box, given the loans H.I.G. contributed at the IPO. In terms of valuation, WHF is trading at 0.96x pro forma IPO book value, versus peers in the 1-1.1x range. And the stock offers an attractive dividend yield of ~10%."

WhiteHorse Finance closed at $14.78 on Friday.

Latest Ratings for WHF

DateFirmActionFromTo
Jan 2015CitigroupMaintainsBuy
Nov 2014WunderlichMaintainsBuy
Nov 2014Keefe Bruyette & WoodsDowngradesOutperformMarket Perform

View More Analyst Ratings for WHF
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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