UPDATE: Deutsche Bank Initiates Buy, $11 PT on Fifth Street Finance

Deutsche Bank initiates its coverage on Fifth Street Finance FSC with a Buy rating and a price taget of $11 per share, reflecting attractive portfolio characteristics and investment opportunities. Deutsche Bank notes, "Given Fifth Street's portfolio characteristics, direct origination strategy, and focus on established businesses, we believe the company is well positioned. We expect continued portfolio growth to drive sequential earnings growth as the company increases leverage. Given the lack of capital available to middle market borrowers, we believe returns on new investments will remain attractive." FSC closed at $9.36 per share on Monday.