MidCap Financial price target lowered to $13 from $15 at Truist

Truist analyst Arren Cyganovich lowered the firm’s price target on MidCap Financial (MFIC) to $13 from $15 and keeps a Buy rating on the shares as part of a broader research on BDCs – business development companies – with updates on several models post earnings. The decline in estimates reflects a mix of lower assumed portfolio investments as the firm expects MFIC to fund its announced share repurchases with net repayments from the loan portfolio, the analyst tells investors in a research note.