Blackstone Secured Lending Fund price target lowered to $31 from $32 at Wells Fargo

Wells Fargo analyst Finian O’Shea lowered the firm’s price target on Blackstone Secured Lending Fund to $31 from $32 and keeps an Overweight rating on the shares. Higher-cost BDCs must raise capital and destroy comparatively more shareholder value to prevent market share loss in sponsor finance, the firm says. With its cost structure and origination footprint, Blackstone Secured Lending Fund should remain “better than most,” Wells argues.