B. Riley analyst Bryce Rowe upgraded Stellus Capital to Neutral from Sell with a price target of $13.25, up from $12.50, following the Q1 report. The company’s balance sheet leverage has declined modestly since Q3 of 2023 and it has a sufficient liquidity position as well as prospects for additional realized gains, the analyst tells investors in a research note. The firm pegs Stellus Capital;s available liquidity at $127M, or 15% of the portfolio, and notes the company has the ability to raise equity via the at-the-market offering, given that it trades above net asset value.
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Read More on SCM:
- Stellus Capital reports Q1 core NII 42c, consensus 45c
- Stellus Capital Investment Corporation Reports Results for its First Fiscal Quarter Ended March 31, 2024
- SCM Earnings this Week: How Will it Perform?
- Stellus Capital Investment Corporation Announces Ex-Dividend Date Changes to its $0.40 Second Quarter 2024 Regular Dividend, Payable Monthly in Increments of $0.1333 in May, June, and July 2024
- Stellus Capital Investment Corporation Announces $0.40 Second Quarter 2024 Regular Dividend, Payable Monthly in Increments of $0.1333 in May, June, and July 2024
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