UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Fifth Street Finance

In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Fifth Street Finance

, and slightly raised its price target from $11.00 to $11.50. Deutsche Bank noted, “On September 14, FSC closed a secondary offering of 8.5 million shares (including a partial exercise of the overallotment option), raising net proceeds of roughly $88 million. We believe the transaction was slightly accretive to NAV with post-deal NAV of roughly $9.90 per share. We expect FSC to post earnings growth as the company deploys new capital at attractive terms. Additionally, in FSC's September 24 newsletter, the company announced quarter-to-date originations of $103 million and roughly $400 million of available investment capacity.” Fifth Street Finance closed on Tuesday at $10.81.