MSC Income Fund initiated with a Buy at Truist

Truist initiated coverage of MSC Income Fund (MSIF) with a Buy rating and $20 price target. The business development company that is advised by Main Street Capital (MAIN) primarily provides debt capital to sponsor backed companies and secondarily provides customized debt and equity capital solutions to lower middle market companies, notes the analyst. Main Street has a strong reputation in private credit and MSC Income Fund has a differentiated investment approach, the analyst tells investors.