BMO Capital Markets Raises Apollo Tactical Income Fund (NYSE:AIF) Price Target to $40.00

Apollo Tactical Income Fund (NYSE:AIF) had its price target raised by equities research analysts at BMO Capital Markets from $38.00 to $40.00 in a research note issued on Friday, Stock Target Advisor reports. BMO Capital Markets’ price target suggests a potential upside of 171.00% from the stock’s previous close.

A number of other research analysts have also commented on the company. National Bank Financial lowered Apollo Tactical Income Fund from an “outperform” rating to a “sector perform” rating and set a $40.00 price objective on the stock. in a report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Apollo Tactical Income Fund from $39.00 to $44.00 and gave the company an “outperform” rating in a report on Friday. CIBC increased their price objective on Apollo Tactical Income Fund from $26.00 to $30.00 in a report on Tuesday, October 29th. Finally, Canaccord Genuity increased their price objective on Apollo Tactical Income Fund from $40.00 to $44.00 in a report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.00.

Shares of NYSE AIF opened at $14.76 on Friday. The business’s 50-day simple moving average is $14.85 and its 200-day simple moving average is $14.80. Apollo Tactical Income Fund has a 52 week low of $12.95 and a 52 week high of $15.34.

Several hedge funds and other institutional investors have recently modified their holdings of AIF. First Trust Advisors LP increased its holdings in shares of Apollo Tactical Income Fund by 3.8% during the 1st quarter. First Trust Advisors LP now owns 78,704 shares of the company’s stock valued at $1,156,000 after acquiring an additional 2,904 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Apollo Tactical Income Fund by 16.7% in the 2nd quarter. Capital Investment Advisors LLC now owns 43,400 shares of the company’s stock valued at $640,000 after buying an additional 6,200 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV grew its holdings in Apollo Tactical Income Fund by 75.2% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 18,400 shares of the company’s stock valued at $271,000 after buying an additional 7,900 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Apollo Tactical Income Fund by 9.4% in the 2nd quarter. Wells Fargo & Company MN now owns 847,367 shares of the company’s stock valued at $12,499,000 after buying an additional 72,589 shares during the last quarter. Finally, Shaker Financial Services LLC grew its holdings in Apollo Tactical Income Fund by 3.0% in the 2nd quarter. Shaker Financial Services LLC now owns 288,384 shares of the company’s stock valued at $4,254,000 after buying an additional 8,497 shares during the last quarter.

Apollo Tactical Income Fund Company Profile

Apollo Tactical Income Fund Inc is a closed-ended fixed income fund launched and managed by Apollo Credit Management, LLC. The fund invests in fixed income markets. It primarily invests in senior secured loans including floating rate senior loans, high yield corporate bonds, and other credit instruments of varying maturities made to companies whose debt is typically rated below investment grade.

Read More: How is a management fee different from a performance fee?

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