Recently Golub Capital BDC (NASDAQ:GBDC) announced that it originated $288 million in new middle-market investment commitments last quarter and is reporting earnings on August 8. I believe that the current analysts' estimates for EPS are low and have included my analysis of projected net investment income. The current stock price is high compared to most BDCs and GBDC took advantage of these higher multiples with the most recent stock offering that will have an accretive impact to its net asset value ("NAV") per share price. In this article I will lay out my earnings projections through 2013 and associated pricing targets as well as identify the key risks and things to watch for in the upcoming earnings releases.
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