GSV Capital poised to rise as Lyft IPO nears

|About: GSV Capital (GSVC)|By:, SA News Editor

GSV Capital (GSVC -0.2%) is poised to advance as the market for IPOs improves with car-hailing app Lyft IPO in the wings, writes BTIG analyst Mark Palmer.

Sees GSV Capital as inexpensive: Lyft represents 6.9% of GSVC's portfolio of late-stage VC-backed companies as of Sept. 30; management said in November that its Lyft investment was marked below the $15.1B valuation that reportedly is being applied to the IPO.

GSVC is trading "nowhere near" its last-reported net asset value of $10.58 per share; combined fair value of its top five investments as of Sept. 30 was $136.7M vs. recent market cap of $127.7M.

Reiterates buy recommendation and price target of $11.50.

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