Raymond James initiated coverage of PennantPark Floating Rate (PFLT) with a Market Perform rating and no price target The firm views PennantPark positively on a general credit basis, saying its earnings projections are sufficient to cover the dividend on a go forward basis even as interest rates begin trending down. However, the shares are fairly valued at this stage given the early stages of the company’s loan fund program expansion, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFLT:
- PennantPark Floating Rate initiated with a Market Perform at Raymond James
- PennantPark Floating Rate announces upsize of joint venture
- PennantPark Declares December 2024 Distribution
- PennantPark’s Financial Performance and Investment Strategy
- Options Volatility and Implied Earnings Moves Today, November 25, 2024
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue