Reported about 1 month ago
Wells Fargo analyst Finian O’Shea has reduced the price target for Prospect Capital Corporation from $5.00 to $4.50 following a heated exchange with CEO John F. Barry III during an earnings call. The discussion revolved around potential stock conversions, with O’Shea's concerns about dilution amid changing market conditions prompting the downgrade. O'Shea has maintained an Underweight rating, equating it to a sell recommendation, and noted risks tied to the company's recent net investment income decline and asset value changes.
Source: YAHOO