Cion Investment initiated with a Buy at Lucid Capital

Lucid Capital initiated coverage of Cion Investment (CION) with a Buy rating and $13.50 price target With reduced nonaccrual levels, the stock’s “discount valuation” presents an attractive risk/reward scenario, the analyst tells investors in a research note. The firm believes the recent reduction in the company’s nonaccrual levels has effectively de-risked the balance sheet for the near-to-midterm.