UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on WhiteHorse Finance on Solid 4Q12 Results

In a report published Wednesday, J.P. Morgan reiterated its Overweight rating on WhiteHorse Finance

, and slightly raised its price target from $15.00 to $16.00. J.P. Morgan noted, “WHF reported the first quarter of results since going public in early December 2012. 4Q12 NAV/sh of $15.31 exceeded our estimate of $14.94, on higher than expected investment income. NII/sh was $1.20 (exceeding our expectations, though we do not have a published estimate for the full quarter). While the quarter was solid from an NII perspective, capital deployment was slower than our expectations and we have revised our forward estimates to reflect a slower ramp up of the portfolio. We remain positive on WHF's small-cap focused, proprietary origination platform in a tight spread environment. We raise our PT to $16 from $15, to reflect greater NAV accretion in 4Q12.” WhiteHorse Finance closed on Tuesday at $15.33.