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Fly News Breaks for November 12, 2019
ARCC
Nov 12, 2019 | 06:39 EDT
RBC Capital analyst Kenneth Lee resumed coverage of Ares Capital with an Outperform rating and $20 price target. The analyst contends that the company brings a "strong track record across the cycle" with potential to generate above-peer-average ROEs, further noting its scale as the "market-leading" business development firm with $14.5B in total assets. Lee adds that Ares Capital can be viewed as a "'total solutions provider", offering financing solutions for middle market companies for various transaction types.
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