Truist analyst Arren Cyganovich lowered the firm’s price target on Main Street (MAIN) to $60 from $64 and keeps a Hold rating on the shares after its Q3 pre-announcement. The rise in net asset value and the decrease in non-accruals reads positive for the firm’s BDC coverage as concerns around portfolio quality have been top of mind for some investors, the analyst tells investors in a research note. Truist adds however that its reduced price target reflects lower peer multiples.
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