Barings BDC price target lowered to $10 from $11 at BofA

BofA analyst Derek Hewett lowered the firm’s price target on Barings BDC (BBDC) to $10 from $11 and keeps a Buy rating on the shares. Barings BDC reported “a relatively good quarter,” says the analyst, who adds that terminating the MVC Capital credit support agreement increases shareholder alignment, converts a non-yielding asset to cash, and simplifies the portfolio.