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Compass Point downgrades Saratoga to 'neutral' on valuation

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Compass Point downgrades Saratoga to 'neutral' on valuation

Compass Point analyst Casey Alexander downgraded Saratoga Investment Corp.'s stock to "neutral" from "buy" following a run-up in the stock's price.

Alexander set a price target for the shares at $23.

The analyst wrote that coupled with the current dividend, the $23 price target offers a potential 12-month total return of about 9%, which is more in line with a "neutral" rating.

The analyst's EPS estimates for the years 2018 and 2019 are $2.11 and $2.25, respectively.