Main Street initiated with an Equal Weight at Wells Fargo

Wells Fargo analyst Finian O’Shea initiated coverage of Main Street (MAIN) with an Equal Weight rating and $50 price target The company is better positioned than peers to navigate business development company industry weakness, the analyst tells investors in a research note. However, Wells believes Main is likely to face a near-term supplemental dividend cut that would weigh on the shares. The firm does not model for net gains from appreciation in the near-term out of conservatism on credit headwinds.