UPDATE: Sterne Agee Raises PT to $28.50 on Triangle Capital Corporation Following A4 Beat
Sterne Agee maintained Triangle Capital Corporation (NYSE: TCAP) with a Neutral and raises the price target from $25.00 to $28.50.
Sterne Agee said, "We are increasing our FY 2013 and 2014 FY EPS estimates from $2.12 and $2.16 to $2.16 and $2.20, respectively. Our adjustments reflect quarterly results, positive credit metrics, and changes in capital structure. Additionally, we are raising our price target from $25.00 to $28.50 to reflect higher expected dividend levels and a lower targeted dividend yield."
Triangle Capital Corporation closed at $29.08 on Friday.
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