BofA lowered the firm’s price target on Crescent Capital BDC (CCAP) to $17 from $20 and keeps a Buy rating on the shares. The Q1 results for the business development companies were “somewhat disappointing,” with profitability weaker than expected as lower rates and spreads, tariff-related macro uncertainty, and normalizing credit weighted on reports, the analyst tells investors in a research note. However, there was only as small uptick in non-accruals to 2.9%, which remain well below the industry longer-term average, adds BofA. It remains positive on the sector.
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Read More on CCAP:
- Crescent Capital BDC Elects New Directors at Meeting
- Crescent Capital BDC price target lowered to $17 from $20 at Raymond James
- Crescent Capital BDC price target lowered to $15 from $16 at Wells Fargo
- Crescent Capital downgraded to Market Perform from Outperform at Keefe Bruyette
- Crescent Capital BDC Reports Q1 2025 Earnings
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