BofA lowered the firm’s price target on Runway Growth Finance (RWAY) to $9.75 from $10.50 and keeps a Neutral rating on the shares. The Q1 results for the business development companies were “somewhat disappointing,” with profitability weaker than expected as lower rates and spreads, tariff-related macro uncertainty, and normalizing credit weighted on reports, the analyst tells investors in a research note. However, there was only as small uptick in non-accruals to 2.9%, which remain well below the industry longer-term average, adds BofA. It remains positive on the sector.
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Read More on RWAY:
- Wells Fargo downgrades Runway Growth Finance to Equal Weight
- Runway Growth downgraded to Equal Weight from Overweight at Wells Fargo
- Runway Growth Finance Q1 Earnings: Mixed Signals with Strategic Moves
- Runway Growth Finance Corp. Reports Q1 2025 Results
- Runway Growth Finance reports Q1 NII 42c, consensus 37c
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