BTIG analyst Marvin Fong maintained a Buy rating on SuRo Capital yesterday and set a price target of $10.50.
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Marvin Fong has given his Buy rating due to a combination of factors, primarily driven by the positive developments within SuRo Capital’s portfolio. The company’s Net Asset Value (NAV) per share increased slightly, and significant gains have been realized from the sale of CoreWeave shares, contributing to a robust financial position. Additionally, SuRo Capital’s investment in OpenAI is poised to significantly enhance its NAV, especially if OpenAI achieves a projected $1 trillion valuation.
Moreover, other portfolio assets like WHOOP and Canva have shown promising growth, further strengthening the company’s outlook. The decision to raise the price target to $10.50 reflects these positive trends and the potential for future value creation. While the anticipated dividends and share buyback program add to the attractiveness of the stock, the potential upside from OpenAI’s valuation remains a key driver for the Buy rating.