In a report published Tuesday, J.P. Morgan analyst Richard Shane downgraded WhiteHorse Finance WHF from Overweight to Neutral, but reiterated the $15.50 price target.
In the report, J.P. Morgan noted, “We lower our rating to Neutral, as we believe the BDC is fairly valued at 1.03x NAV. WHF has a differentiated self-origination strategy, which may lead WHF to experience less yield compression vs. peers. WHF's access to H.I.G.'s proprietary small cap deal sourcing network enables it to originate deals that are less liquid and less competitive to source than large and mid-cap loans in the marketplace. Given the BDC's short operating history, we believe the company is fairly valued at or above 1.0x book value.”
WhiteHorse Finance closed on Monday at $15.81.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.