Fly News Breaks for February 5, 2020
Feb 5, 2020 | 18:04 EDT
Wells Fargo analyst Finian O'Shea downgraded Apollo Investment to Underweight from Equal Weight with a $17 price target. O'Shea said that while he appreciates the company's recently improved shareholder alignment, platform improvements in direct lending and progress in portfolio rotation, he sees the BDC very aggressively positioned and likely without optionality to lean in during a market downturn. The analyst said his downgrade was due to higher valuation and declining fundamentals.
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