Bain Capital Specialty upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo analyst Finian O’Shea upgraded Bain Capital Specialty Finance to Overweight from Equal Weight with a price target of $17, up from $16. The firm cites the stock’s “deep” valuation discount and stable credit backdrop for the upgrade. Signs of credit stability, which has started to take on deeper vintage and junior exposures and should accelerate into Q2, is making Wells more constructive on “discounted” business development company plays, the analyst tells investors in a research note.