Jefferies analyst Matthew Hurwit downgraded Advanced Flower Capital (AFCG) to Hold from Buy with a price target of $7, down from $10. The firm cites ongoing credit uncertainty for the downgrade, with approximately 39% of Advanced Flower’s loans on non-accrual as of Q4. The ultimate recovery on these loans is uncertain, as is the timing of recoveries, the analyst tells investors in a research note.
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