KKR Financial Corp. (KFN)

[researcher59]

KKR Financial: Confusion creates an opportunity - FBR Capital Markets (9.97 ) : FBR Capital Mkts believes that recent weakness amid a broad market downdraft and some confusion regarding KFN's share registration have created a buying opportunity. It would be aggressive buyers of KFN at current levels: shares trade at 1.08x last reported book value of $9.24 and a 6.0% dividend yield. While investor focus remains pointed toward KKR's potential involvement in a thawing CLO market, FBR believes the ability to leverage KKR for differentiated investments evidences the flexibility of the franchise beyond simply being a "CLO shop."

(from briefing.com on Mar 1)