(Updated - May 29, 2024 6:37 AM EDT)
Wells Fargo upgraded Bain Capital Specialty Finance (NYSE:BCSF) from Equal Weight to Overweight with a price target of $17.00 (from $16.00).
Analysts comment "BCSF fits well into our “Who's Next?” model for shareholder-friendly fee cuts, as the manager's 3.0 ambitions and private partnership format may push it to modernize with the next BDC to “hit the buck” (1.0% base) on fees. More managers are moving this way, and more BDCs trading above NAV are likely to make it more topical for BDCs that are storied and discounted."