As previously reported, Wells Fargo analyst Finian O’Shea downgraded Crescent Capital BDC to Equal Weight from Overweight with a price target of $16, down from $16.50. The firm cites valuation for the downgrade. Approaching the industry valuation, Crescent Capital BDC is less interesting to Wells given moderate returns, NAV volatility and the lack of a credit lookback, it argued.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CCAP:
- Crescent Capital BDC downgraded to Equal Weight from Overweight at Wells Fargo
- Crescent Capital BDC reports Q3 adjusted EPS 59c, consensus 56c
- Crescent Capital BDC, Inc. Reports September 30, 2023 Financial Results; Declares a Fourth Quarter Regular Dividend of $0.41 Per Share and Third Quarter Supplemental Dividend of $0.09 Per Share
- Crescent Capital BDC, Inc. Schedules Earnings Release and Conference Call to Discuss its Third Quarter Ended September 30, 2023 Financial Results