FS KKR Capital price target raised to $21 from $20 at RBC Capital

RBC Capital raised the firm’s price target on FS KKR Capital (FSK) to $21 from $20 and keeps a Sector Perform rating on the shares. The company continues to whittle down non-accruals within the portfolio, though its paid-in-kind income increased sequentially, the analyst tells investors in a research note. RBC adds however that the risk-/reward is balanced given FS KKR’s legacy portfolio, though it also sees a pick up in M&A activity creating opportunities for portfolio rotation.