The Rabid Capitalist

Professor Glenn A. Okun

Ares Capital (ARCC):  B. Riley lowered its price target to $20 from $21 and kept a neutral rating on the stock.  They viewed valuation multiple expansion as unlikely due to industry conditions in the short to intermediate term.

Ares Capital (ARCC):  JMP Securities raised its price target to $21 from $20 and maintained an outperform rating on the stock.  The firm cited ARCC’s strong quarter of results, especially its growing origination activity and impeccable credit quality.

N.B.:  The long-term prospects remain excellent.  ARCC remains an attractive stock in the business development company portfolio.