Compass Point raised the firm’s price target on Ares Capital (ARCC) to $24 from $23 and keeps a Buy rating on the shares. The firm is increasing its multiple assumption to reflect Ares’ multi-cycle above-average performance and substantial origination capacity, despite market fears of yield compression, calling Ares “a blue-chip of the BDC peer group.”
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Read More on ARCC:
- Ares Capital price target lowered to $23 from $24 at Wells Fargo
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