Compass Point lowered the firm’s price target on Saratoga Investment to $26.75 from $28.75 and keeps a Buy rating on the shares. The current net asset value, or NAV, is $28.44 and the firm’s four-quarter forward NAV estimate is $29.71, notes the analyst, who is reducing the firm’s target P/NAV multiple to 0.90 times from 0.95 times, but notes this is “still a premium to the median P/NAV of SAR‘s peer group.”
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