UPDATE: Jefferies Raises PT to $12 on KKR Financial Holdings Following Meeting with Management
Jefferies maintained KKR Financial Holdings (NYSE: KFN) with a Hold rating and raised the price target from $11.00 to $12.00.
Jefferies said, "Discussions with KFN management leave us convinced that KFN is one of the most uniquely positioned companies in the Specialty Finance universe. KFN should outperform peers when rates rise, as the company continues to structure the portfolio to take advantage of higher rates of interest and inflation. In the meantime, we expect KFN to product mid-teens cash on cash returns in conjunction with a 7% dividend yield."
KKR Financial Holdings closed at $11.34 on Tuesday.
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