B. Riley last night upgraded Gladstone Capital (GLAD) to Buy from Neutral with a price target of $22, down from $27. At the current valuation, the firm views Gladstone’s risk/return “as a buy.” The company’s fundamentals, including its “proactive” dividend cut, originations and growth ramp, remain strong, the analyst tells investors in a research note. Riley believes there could be selling pressure in the near term from tax-loss selling, which it says would bring an enhanced entry point.
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