Lucid Capital initiated coverage of Saratoga Investment (SAR) with a Buy rating and $27 price target Before 2024, Saratoga had a long track record of above average ROE and below average credit losses, but realized losses in the first two quarters of the year have moved Saratoga’s performance back to peer-average territory. However, the firm believes the company is on the return path to above average ROE following actions to clean up the credit quality profile, combined with the ability to refinance debt to help offset net interest income headwinds from lower rates, the analyst tells investors.
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Read More on SAR:
- Saratoga Investment board declares special dividend of 35c per share
- Saratoga Investment price target raised to $26.25 from $24.75 at Compass Point
- Saratoga Investment price target raised to $25 from $23 at Oppenheimer
- Saratoga Investment downgraded to Neutral from Buy at Ladenburg
- Closing Bell Movers: Saratoga Investment up 8% on earnings beat
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