Sound Point Meridian Capital price target lowered to $10 from $12 at B. Riley

B. Riley analyst Timothy D’Agostino lowered the firm’s price target on Sound Point Meridian Capital (SPMC) to $10 from $12 and keeps a Neutral rating on the shares. The firm cites continuous portfolio spread and NAV compression for the price target reduction. Although a longer-term recovery toward NAV remains plausible, shares are expected to trade at a discount through 2026 due to portfolio performance uncertainty amid heightened market volatility, and NAVs may face continued pressure over the next year, with potential spread compression weighing on earnings and leaving dividend levels uncertain, the analyst tells investors in a research note.