Saratoga Investment price target lowered to $25.25 from $26.25 at Compass Point

Compass Point lowered the firm’s price target on Saratoga Investment (SAR) to $25.25 from $26.25 and keeps a Buy rating on the shares. Combining the impact of heavy repayments and lower base rates, the firm says “it seems clear” that net interest income is “likely to underearn the base $0.74 per share dividend for at least two quarters.”