UPDATE: Jefferies & Company Initiates Coverage on Gladstone Investment with Buy Rating, $9 PT

In a report published Monday, Jefferies & Company initiated coverage on Gladstone Investment Corporation

with a Buy rating and $9.00 price target. Jefferies noted, “GAIN is an attractively valued small-cap, low levered yield play. The company has a seasoned, well-regarded management team and has paid a dividend for 87 consecutive months. We expect investors to earn an approximate 8.0% dividend yield to the current share price with upside leverage to an improving U.S. economy. JEF acted as sole book-running manager in GAIN's recent secondary offering.” Gladstone Investment Corporation closed on Friday at $7.48.