Goldman Sachs BDC Initiated At Credit Suisse With Neutral Rating, $21 Target

In a report published Monday, analysts at Credit Suisse initiated coverage of Goldman Sachs BDC Inc GSBD with a Neutral rating. The price target has been set at $21, based on a 7 percent premium to the company's current NAV. The EPS estimates for 2015, 2016 and 2017 have been set at $2.00, $2.00 and $2.05, respectively. "This level of earnings equates to a 10% stabilized 2015 ROE," the analysts explained. According to Credit Suisse, Goldman Sachs BDC, which is externally managed by Goldman Sachs Asset Management "is the only business within GSAM that is focused on pursuing middle-market direct lending opportunities, and as a result, the BDC should receive full allocation of all deal flow." The analysts also believe that "through its 16 dedicated investment professionals, and by leveraging the broader Goldman Sachs franchise, (Goldman Sachs Asset Management) will deliver attractive deal flow for the BDC."

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Analyst Calendar