Palmer Square price target lowered to $15 from $17 at RBC Capital

RBC Capital lowered the firm’s price target on Palmer Square (PSBD) to $15 from $17 but keeps an Outperform rating on the shares. The firm cites the company’s Q1 earnings miss but notes that given the current investment opportunity set, it continues to believe that Palmer Square may see some portfolio de-leveraging over the next few quarters, the analyst tells investors in a research note. RBC adds that it remains positive on the company’s ability to generate comparable returns with BDC peers while focusing on large, liquid loans and net asset value appreciation potential.