Keefe Bruyette analyst Paul Johnson lowered the firm’s price target on Portman Ridge Finance (PTMN) to $16 from $18 and keeps a Market Perform rating on the shares. The firm reduced its estimates for 2025 and 2026 to $2.25 and $2.18, respectively, citing higher non-accruals, lower portfolio yield, and some return on equity compression from the Logan Ridge Finance (LRFC) merger, the analyst says.
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