Golub Capital price target lowered to $14 from $16 at Oppenheimer

Oppenheimer analyst Mitchel Penn lowered the firm’s price target on Golub Capital (GBDC) to $14 from $16 and keeps an Outperform rating on the shares. The firm notes that as expected ROE declines and NAV fell 69c/share since Q2 2025. Oppenheimer estimates that Golub earns a 9% ROE, and given an estimated cost of equity capital of 9%, it e calculates fair value of $14.35/share, or 1.0 time book value.