Ares Capital price target raised to $21 from $20 at JMP Securities

JMP Securities raised the firm’s price target on Ares Capital to $21 from $20 and keeps an Outperform rating on the shares. Ares Capital reported another strong quarter of results, the analyst tells investors in a research note. The quarterly results showed accelerating origination activity and “pristine” credit quality, with the business continuing to benefit from Ares’ industry leading positioning, the firm says.