Raymond James Upgrades Prospect Capital Corp to Hold

By Carrie Williams

Raymond James analyst Robert Dodd upgraded Prospect Capital Corp (NASDAQ: PSEC) to Hold today. The company’s shares closed yesterday at $6.86, close to its 52-week high of $9.58.

According to TipRanks.com, Dodd is a 4-star analyst with an average return of 4.9% and a 68.0% success rate. Dodd covers the Financial sector, focusing on stocks such as Compass Diversified Holdings, Fidus Investment Corporation, and Goldman Sachs Group Inc.

Currently, the analyst consensus on Prospect Capital Corp is Hold and the average price target is $7, representing a 2.0% upside.

In a report issued on August 23, BMO Capital also reiterated a Hold rating on the stock with a $7 price target.

The company has a one year high of $9.58 and a one year low of $6.60. Currently, Prospect Capital Corp has an average volume of 2.37M.

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Prospect Capital Corp. is a business development company that invests in middle-market companies with an EBITDA of $5 to $150 million, revenues less than $750 million, and enterprise values of less than $1 billion primarily located in the US and Canada. The fund targets companies operating across a wide variety of industries including manufacturing, industrials, consumer services, consumer products, energy, business services, financial services, food, healthcare, and media. It invests primarily in the form of first-lien and second-lien senior loans and mezzanine debt for refinancing, leveraged buyouts, acquisitions, recapitalizations, and later-stage growth investments. It makes investments in the range of $20 to $400 million per transaction. It acquires control positions and makes co-investments. It also invests in equity and subordinated debt tranches of collateralized loan obligations.