Jun. 1 at 7:04 PM
$CCAP Crescent Capital BDC price target lowered to
$17 from
$20 at BofA
BofA lowered the firm's price target on Crescent Capital BDC to
$17 from
$20 and keeps a Buy rating on the shares. The Q1 results for the business development companies were "somewhat disappointing," with profitability weaker than expected as lower rates and spreads, tariff-related macro uncertainty, and normalizing credit weighted on reports, the analyst tells investors in a research note. However, there was only as small uptick in non-accruals to 2.9%, which remain well below the industry longer-term average, adds BofA. It remains positive on the sector.