Main Street initiated with an Outperform at Citizens JMP

Citizens JMP analyst Brian McKenna initiated coverage of Main Street (MAIN) with an Outperform rating and $70 price target implying a 22% total return opportunity. The firm expanded its coverage of business development companies. It thinks the recent underperformance across the industry is largely unwarranted. The selloffs have created “another compelling longer-term buying opportunity in these stocks,” the analyst tells investors in a research note.