Blackstone Secured Lending price target lowered to $31.50 from $32 at JPMorgan

JPMorgan lowered the firm’s price target on Blackstone Secured Lending Fund to $31.50 from $32 and keeps an Overweight rating on the shares. The analyst expects Q2 net interest income levels for the business development companies to be stable sequentially, saying base rates were little changed during the quarter while investment activity levels appear to have increased from the March quarter. It anticipates modest net asset value appreciation.