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Compass Point starts coverage of Corporate Capital Trust

Compass Point Research & Trading LLC analyst Casey Alexander initiated coverage of Corporate Capital Trust Inc. with a "buy" rating and a price target of $18.50.

Corporate Capital became a publicly traded business development company through direct listing of shares. Alexander sees upside to the current valuation, saying the stock has underperformed since its direct listing in November 2017. The current stock price provides investors with "a value-added entry point," the analyst wrote in a report.

The business development company has accumulated "solid" dividend income since its founding in 2011 and its net asset value has proved to be "stable," according to the analyst. Alexander expects the company to generate an EPS of $1.60 in 2018 and $1.66 in 2019.