UPDATE: JP Morgan Initiates WhiteHorse Finance at Overweight on Proprietary Platform

JP Morgan initiated coverage on WhiteHorse Finance WHF with an Overweight rating and a $15 price target. JP Morgan noted, "We believe WHF has a competitive advantage through its access to resources from small-cap focused asset manager H.I.G. Capital. This access enables WHF to maintain a primarily self-originated portfolio, and also provides access to an experienced team of investment professionals. Given the slight discount to book at which WHF currently trades, we anticipate upside as the business development company (BDC) delivers consistent returns over the first 2-3 quarters as a public company." WhiteHorse Finance closed at $14.79 on Friday.