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Great Elm Capital initiated with a Buy at Clear Street

Clear Street initiated coverage of Great Elm Capital (GECC) with a Buy rating and $11.50 price target The firm notes risks from Great Elm’s elevated balance sheet leverage, portfolio concentration, and exposure to cyclical assets, but still sees a “constructive outlook” given an “attractive,” covered 13% dividend yield. Great Elm offers investors attractive income, though with above average risk for a Business Development Company, the analyst added.

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