WhiteHorse Finance (WHF) $13.80, gains a bull as Raymond James picks up coverage (SeekingAlpha).

(Top Performer YOY NAV up 7%.)

Raymond James analyst Robert Dodd initiates coverage of WhiteHorse Finance (WHF +0.9%) with an outpeform rating, saying the stock is “attractively valued” and is trading at an “unjustified” discount to its book value.

Price target of $16 implies 13% upside potential.

Dodd doesn’t expect WHF to stay at mid-teens GAAP ROE long term, but sees double-digit returns likely across a full cycle.

Also sees potential for a special dividend as a result of “substantial gains in 2018.”

Quant rating Neutral.