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Fly News Breaks for November 23, 2016
PNNT
Nov 23, 2016 | 06:35 EDT
FBR Capital analyst Christopher Nolan downgraded PennantPark Investment to Market Perform after the company reported a Q4 miss and lowered its dividend. The analyst believes PennantPark will be unable to materially narrow its valuation discount to peers in the coming quarters. He keeps an $8 price target for the shares.
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