Wells Fargo Downgrades Crescent Capital BDC to Equal-Weight, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Finian O'Shea has downgraded Crescent Capital BDC (CCAP) from Overweight to Equal-Weight and reduced the price target from $16.5 to $16.
November 13, 2023 | 1:14 pm
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NEGATIVE IMPACT
Crescent Capital BDC was downgraded by Wells Fargo from Overweight to Equal-Weight, with a price target decrease from $16.5 to $16.
The downgrade by a major financial institution like Wells Fargo can lead to a negative perception among investors, potentially causing a short-term decline in CCAP's stock price. The reduction in the price target further supports the expectation of a downward movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100