SunTrust Robinson Humphrey Downgrades Goldman Sachs BDC, Inc. (GSBD) to Hold

SunTrust Robinson Humphrey downgraded Goldman Sachs BDC, Inc. (NYSE: GSBD) from Buy to Hold with a price target of $22.00.

Analyst Douglas Mewhirter commented, "We have downgraded shares of Goldman Sachs BDC to Hold from Buy. While we do not have any concerns regarding the company's prospects or quality of management, the stock trades at almost 1.3x book value and more than 7% above our price target. Given the more balanced risks to BDCs in general, and no meaningful company-specific catalysts, we do not see a compelling reason for the stock to significantly expand its valuation multiple from this point. However, the shareholder-friendly fee structure, earnings in excess of the dividend and differentiated origination channel should provide stable returns for long-term holders. Our $22 PT equals 1.15x 2017E NAV, which is a premium to peers (1.05x) and the historical average (1.10x)."

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

Shares of Goldman Sachs BDC, Inc. closed at $23.79 yesterday.

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