Crescent Capital BDC price target lowered to $15.50 from $16.50 at Clear Street

Clear Street analyst Mickey Schleien lowered the firm’s price target on Crescent Capital BDC (CCAP) to $15.50 from $16.50 and keeps a Buy rating on the shares. The company reported stable Q3 pre-tax NII, unchanged sequentially and covering 110% of is regular 42c dividend, the analyst tells investors in a research note. The firm added that it was disappointed by minimal share repurchases despite a 24% average discount to net asset value in Q3, and believes it would be prudent for Crescent o take advantage of this discount as a highly attractive use of capital.