Lucid Capital upgraded Gladstone Capital (GLAD) to Buy from Neutral with a price target of $23, down from $26. Clear Street, Oppenheimer and B. Riley also upgraded Gladstone Capital today. Lucid cites valuation for the upgrade following the recent industry pullback. Over the past five years, Gladstone generated the highest total return among publicly traded business development companies at 106% versus the 39% peer median, the analyst tells investors in a research note. The firm finds the stock attractively valued, trading at 93% of net asset value. Gladstone Capital in early trading is up 3% to $20.45.
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Read More on GLAD:
- Gladstone Capital upgraded to Outperform from Perform at Oppenheimer
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