UPDATE: Gilford Securities Initiates Coverage on Saratoga Investment on Positive Outlook

In a report published Tuesday, Gilford Securities analyst Casey Alexander initiated coverage on Saratoga Investment Corp. (NYSE: SAR) with a Buy rating and $23.00 price target.

In the report, Gilford Securities noted, “We are initiating coverage on Saratoga Investment Corp (SAR) with a Buy Rating and a price target of $23 per share. Saratoga Investment Corp (Symbol: SAR) is a business development company (BDC) headquartered in NYC, New York. It invests primarily in leveraged loans and mezzanine debt issued by private U.S. middle-market companies, both through direct lending and through participation in loan syndicates. Saratoga targets cash flow positive companies with annual revenues between $10 and $100 million and EBITDA in excess of $2 million. The investment objective of Saratoga is to generate current income and capital appreciation from its investments.”

Saratoga Investment Corp. closed on Monday at $19.15.