BofA analyst Derek Hewett lowered the firm’s price target on Nuveen Churchill (NCDL) to $16.50 from $18.25 and keeps a Buy rating on the shares following what the firm calls “a somewhat mixed quarter.” However, core profitability excluding one-time items was “strong,” says the analyst, who thinks Nuveen Churchill is well positioned to generate strong risk-adjusted returns despite the more challenging macro backdrop.
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