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In a report published Thursday, Wunderlich Securities analyst Merrill Ross initiated coverage on
Fifth Street Finance Corp.FSC with a Buy rating and $10.50 price target.
In the report, Wunderlich Securities noted, “We are initiating coverage of Fifth Street Capital Corp. (FSC) with a Buy rating and a price target of $10.50. FSC lends to and invests in small and mid-sized companies, primarily through private equity (PE) sponsors. Many BDCs offer financing alternatives to PE sponsors; we believe that FSC has differentiated itself by offering a relatively large investment size and flexibility. While FSC does participate in select widely syndicated credits, its investments range in size from $10mm to $100mm, and for small to mid-sized companies with annual revenues between $25mm and $250mm, FSC can frequently meet the capital needs of its portfolio companies with uniquely tailored capital products.”
Fifth Street Finance Corp. closed on Wednesday at $9.87.
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