Great Elm Capital price target lowered to $10 from $11.50 at Clear Street

Clear Street lowered the firm’s price target on Great Elm Capital (GECC) to $10 from $11.50 and keeps a Buy rating on the shares after the company reported a material impact from First Brands’ bankruptcy. Great Elm expects markdowns will reduce Q3 net asset value by $1.40-$1.50 per share including indirect exposure, notes the analyst, who lowered the firm’s 2025 and 2026 net interest income forecast, as well as reducing its 2026 dividend expectation.