Market Overview

Oppenheimer Initiates Coverage On Fidus Investment Corp


Oppenheimer & Co. is initiating coverage on Fidus Investment Corp (NASDAQ: FDUS) with an Outperform rating and a $15 price target.

In a note to clients, Oppenheimer & Co. writes, "We are initiating coverage on Fidus, a business development corporation (BDC) with a focus on middle-market mezzanine debt, with an Outperform rating as we expect a roughly 30% total return in the year ahead. That is based on an ~10.5% current yield plus an appreciation to the average valuation range of the BDC universe. After completing its IPO on June 20, Fidus posted its first quarterly earnings report as a public company last week with $0.36/share in net investment income and a $0.32 dividend. Since Fidus is flush with more than $70M of IPO cash that should be deployed over the next year or so, that NII and dividend should grow significantly."

Shares of FDUS closed at $13.01 yesterday.

Posted-In: Oppenheimer & Co.Analyst Color Price Target Initiation Analyst Ratings


Related Articles (BDC + FDUS)

View Comments and Join the Discussion!

Latest Ratings

ALDRCanaccord GenuityDowngrades20.0
LEGHLake StreetInitiates Coverage On21.0
CHUGoldman SachsUpgrades13.2
STZBMO CapitalMaintains230.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Citi Reiterates Buy and PT of $35 on DISH Network

NetSol Technologies' CEO Purchases 100,000 Shares of Company Common Stock in Open Market