Wells Fargo Downgrades BlackRock TCP Cap to Underweight, Lowers Price Target to $8
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Finian O'Shea has downgraded BlackRock TCP Capital (NASDAQ:TCPC) from Equal-Weight to Underweight and reduced the price target from $8.5 to $8.

August 26, 2024 | 12:40 pm
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NEGATIVE IMPACT
Wells Fargo has downgraded BlackRock TCP Capital to Underweight and reduced its price target, indicating potential short-term downside pressure on the stock.
The downgrade from Equal-Weight to Underweight by a major financial institution like Wells Fargo suggests a negative outlook on TCPC's performance. The reduction in the price target further supports this view, likely leading to short-term selling pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100