UPDATE: Deutsche Bank Initiates Coverage on WhiteHorse Finance with Buy Rating, $16.50 PT
In a report published Friday, Deutsche Bank initiated coverage on WhiteHorse Finance (NASDAQ: WHF) with a Buy rating and $16.50 price target.
Deutsche Bank noted, “We expect net investment income to grow in 2013 as WHF deploys its IPO capital into new debt investments in small cap companies. We expect WHF to benefit from the upcoming debt maturity wall, which we expect to provide WHF with attractive new investment opportunities, as well as the experience of its Manager, which has access to 78 investment professionals focused on small cap debt investments. We are initiating coverage with a Buy rating. Our target of $16.50 per share is based on shares trading at 110% of NAV.”
WhiteHorse Finance closed on Thursday at $14.90.
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