Honeycomb Investment: High quality income with downside protection - Liberum

Pollen Street

17/12/2020 09:12

** Liberum raises rating on shares of closed-ended
investment co  HONY.L  to "buy" from "hold"; cuts PT to 1,060p
from 1,147p 
    ** Brokerage says structure of loans provides considerable
downside protection
    ** It adds current Expected Credit Loss provisions are
prudent, providing buffer for future returns 
    ** "Strong cash generation across HONY's diversified,
granular loan portfolio has underpinned an unchanged dividend in
2020" - Liberum 
    ** HONY up 2.8% YTD

 (Reporting by Aniruddha Ghosh in Bengaluru)
 ((Aniruddha.Ghosh@thomsonreuters.com; 91 83 83 81 2416;))