MidCap Financial price target lowered to $12 from $12.50 at JPMorgan

JPMorgan lowered the firm’s price target on MidCap Financial (MFIC) to $12 from $12.50 and keeps a Neutral rating on the shares as part of a Q3 preview for the business development company group. The sector continued to experience volatility in the quarter as capital markets have begun to weigh the impact of expected interest rate cuts by the Federal Reserve, the analyst tells investors in a research note.