Deutsche starts Prospect at Buy
"We expect the portfolio to continue generating attractive ROEs with strong credit results," says analyst Stephen Laws, starting Prospect Capital (PSEC) with a Buy and $12.25 price target.Prospect is positioned to benefit from rising short-term rates (when is that happening?), says Laws, owing to a largely floating-rate portfolio funded with fixed-rate financing.The $12.25 price target represents a 15% premium to NAV.
"We expect the portfolio to continue generating attractive ROEs with strong credit results," says analyst Stephen Laws, starting Prospect Capital (PSEC) with a Buy and $12.25 price target.Prospect is positioned to benefit from rising short-term rates (when is that happening?), says Laws, owing to a largely floating-rate portfolio funded with fixed-rate financing.The $12.25 price target represents a 15% premium to NAV.
