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UPDATE: J.P. Morgan Reiterates on Fifth Street Finance Following Dividend Reduction

Related FSC
UPDATE: Wunderlich Securities Initiates Coverage On Fifth Street Finance Corp. As Value Creation Is On The Uptick
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In a report published Friday, J.P. Morgan analyst Richard Shane reiterated an Overweight rating on Fifth Street Finance Corp. (NASDAQ: FSC), but lowered the price target from $11.00 to $10.00.

In the report, J.P. Morgan noted, “Fifth Street Finance (ticker: FSC) had a disappointing 4QFY2013, with a dividend cut, lower than expected NII/sh, and NAV dilution. The market seems to have recalibrated expectations lower, as shares traded down approximately 7% since reporting earnings. We are lowering our PT to $10, but with a secure 10% dividend yield and shares trading at a slight discount to NAV, we maintain our Overweight rating.”

Fifth Street Finance closed on Wednesday at $9.70.

Latest Ratings for FSC

DateFirmActionFromTo
Sep 2014WunderlichInitiates Coverage onBuy
Jun 2014JMP SecuritiesInitiates Coverage onMarket Perform
Jun 2014SunTrust Robinson HumphreyInitiates Coverage onBuy

View More Analyst Ratings for FSC
View the Latest Analyst Ratings

Posted-In: J.P. Morgan Richard ShaneAnalyst Color Price Target Analyst Ratings

 

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