Gilford Securities Reiterates Buy on Fifth Street Finance (FSC)

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Gilford Securities is out with its report today on Fifth Street Finance (NYSE: FSC), reiterating Buy.In a note to clients, Gilford Securities writes, "This was the busiest quarter in Fifth Street Finance, especially if we consider the $172MM Convertible Bond issue that was issued after the end of the quarter but before the 2011 Q2 (ending 3/31) EPS report. FSC funded $218MM in new and follow-on investments which is a tremendous performance in the traditionally slower March quarter. With little in the way of maturities, pay-downs or payoffs during the quarter,FSC had excellent portfolio growth."Gilford Securities has a $14 PT on FSC.Shares of FSC closed Wednesday at $12.53.

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