TriplePoint Venture upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo analyst Finian O’Shea upgraded TriplePoint Venture Growth BDC to Equal Weight from Underweight with a price target of $8, down from $8.50, post the Q2 report. The analyst says the company has a more stable leverage structure and payout that reflects a 16.1% yield. It cites the company’s deleveraging for the upgrade. The company’s issuance is significant positive as it removes an inevitable overhang for the stock and reduces risk, the analyst tells investors in a research note.