Golub Capital initiated with an Outperform at RBC Capital

RBC Capital analyst Kenneth Lee initiated coverage of Golub Capital (GBDC) with an Outperform rating and $15 price target With investors focusing on credit, RBC favors Golub’s long-term track record of more favorable loss experience versus peers and reputation as a strong credit underwriter, the analyst tells investors in a research note. Golub’s portfolio is “relatively differentiated” from its business development company peers with a focus on the core middle-market segment, the analyst tells investors in a research note.