Sixth Street price target lowered to $23 from $24 at Raymond James

Raymond James lowered the firm’s price target on Sixth Street (TSLX) to $23 from $24 and keeps an Outperform rating on the shares. Sixth Street’s net interest income for Q1 was above the firm’s estimates amid lower-than-expected interest and management fees, and credit remains robust, with the pipeline considering a wider array of opportunities, the analyst tells investors in a research note. The firm says Sixth Street’s portfolio remains in robust condition, with relatively little downside risk to net asset value going forward.