Keefe Bruyette analyst Paul Johnson downgraded MidCap Financial (MFIC) to Market Perform from Outperform with a price target of $14, down from $14.50. Keefe expects a stable quarter for business development company earnings results, with fewer headwinds from rates and spreads, and activity slowed, but exited the quarter at a good pace and could set up a stronger second half, the analyst tells investors in a research note.
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