Wells Fargo Downgrades Barings BDC to Equal-Weight, Lowers Price Target to $8.5
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Finian O'Shea has downgraded Barings BDC (BBDC) from Overweight to Equal-Weight and reduced the price target from $9 to $8.5.
November 13, 2023 | 1:06 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Wells Fargo, through its analyst Finian O'Shea, has issued a downgrade and a lower price target for Barings BDC.
While Wells Fargo is the entity issuing the downgrade, the direct impact on its own stock is likely to be minimal as this is a routine part of analyst activities. However, there could be a slight indirect impact depending on the market's perception of the bank's research credibility.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Barings BDC was downgraded by Wells Fargo from Overweight to Equal-Weight, with a price target decrease from $9 to $8.5.
The downgrade by a major financial institution like Wells Fargo suggests a less optimistic outlook on BBDC's stock performance. The reduction in price target may lead to a negative investor sentiment in the short term, potentially causing a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100