Sound Point Meridian price target lowered to $18 from $20 at Clear Street

Clear Street lowered the firm’s price target on Sound Point Meridian Capital (SPMC) to $18 from $20 and keeps a Buy rating on the shares. The firm says the company’s semi-annual report showed stronger than expected net interest income for Q2 due mainly to lower interest expense. The company’s credit metrics stayed healthy, the analyst tells investors in a research note.