Barings BDC cut to Equal Weight at Wells Fargo as earnings recovery stalls

As previously reported, Wells Fargo analyst Finian O’Shea downgraded Barings BDC to Equal Weight from Overweight with a price target of $8.50, down from $9, as earnings recovery stalls. The firm notes Barings BDC has gained significant lost ground from its mid-year lows, but valuation has improved faster than its outlook in Wells’ view.