PennantPark Floating risk/reward favorable into 2026, says Keefe Bruyette

Keefe Bruyette views shares of PennantPark Floating Rate (PFLT) as a “holiday opportunity,” saying the stock’s risk/reward is favorable heading into 2026. The company offers less earnings downside relative to peers given its “investor-friendly” fee structure and contribution from its new joint venture, the analyst tells investors in a research note. Keefe keeps an Outperform rating on the shares with a $10.50 price target