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UPDATE: Sterne Agee Downgrades Triangle Capital to Neutral on Valuation

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Sterne Agee reduced its rating on Triangle Capital (NYSE: TCAP) from Buy to Neutral and set a price target of $25 a share.

Sterne Agee said, "Our price targets for the RIC/BDCs and other credit-sensitive income stocks we follow are generally based on an 8.0% targeted yield, based on declared dividends: [Quarterly dividend $0.50 x 4] /8.0%=$25. TCAP has crossed that mark. Its dividend yield of 7.8% is attractive, but we believe the shares warrant more of a Neutral rating."

Triangle Capital closed at $25.54 on Monday.

Latest Ratings for TCAP

Nov 2017JefferiesDowngradesBuyHold
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View More Analyst Ratings for TCAP
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