JPMorgan Downgrades TCG BDC, Inc. (CGBD) to Underweight

JPMorgan analyst Richard Shane downgraded TCG BDC, Inc. (NASDAQ: CGBD) from Neutral to Underweight with a price target of $17.00.

The analyst comments: "This is a relative valuation call. We do not have particular concerns with this portfolio or company: we see stable dividend coverage above 100% through our forecast period and good credit / NAV trends. However, shares are trading at a 7% premium to NAV, which reflects a ~0.1x premium to peers."

For an analyst ratings summary and ratings history on TCG BDC, Inc. click here. For more ratings news on TCG BDC, Inc. click here.

Shares of TCG BDC, Inc. closed at $18.30 yesterday.

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