Prospect Capital Corp. Receives New Coverage from Analysts at Deutsche Bank (PSEC)
Research analysts at Deutsche Bank started coverage on shares of Prospect Capital Corp. (NASDAQ:PSEC) in a report released on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $12.25 price target on the stock. Deutsche Bank’s price target indicates a potential upside of 9.18% from the company’s current price.
The analysts wrote, “We expect the portfolio to continue generating attractive ROEs with strong credit results. We believe PSEC’s portfolio is well-positioned given the diversification across industries and should benefit from increasing short-term rates, as the investment portfolio is largely floating-rate and is funded with largely fixed-rate financing. We expect the company to finance future portfolio growth through its ATM program and InterNotes offerings. We are establishing a price target of $12.25 per share, which is based on shares trading at a 15% premium to NAV.”
Shares of Prospect Capital Corp. (NASDAQ:PSEC) traded up 0.80% during mid-day trading on Friday, hitting $11.31. 3,607,726 shares of the company’s stock traded hands. Prospect Capital Corp. has a one year low of $10.05 and a one year high of $11.62. The stock’s 50-day moving average is $11.28 and its 200-day moving average is $11.06. The company has a market cap of $3.131 billion and a P/E ratio of 10.22.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.01. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, analysts predict that Prospect Capital Corp. will post $1.26 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on PSEC. Analysts at Wunderlich initiated coverage on shares of Prospect Capital Corp. in a research note to investors on Thursday, December 5th. They set a “hold” rating and a $12.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Prospect Capital Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, November 27th. They now have a $10.80 price target on the stock. Finally, analysts at BMO Capital Markets initiated coverage on shares of Prospect Capital Corp. in a research note to investors on Tuesday, November 26th. They set an “outperform” rating and a $12.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Prospect Capital Corp. has an average rating of “Hold” and an average price target of $11.83.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
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