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J.P. Morgan Believes TCG BDC (CGBD) Still Has Room to Grow

In a report issued on February 24, Melissa Wedel from J.P. Morgan maintained a Buy rating on TCG BDC (CGBDResearch Report), with a price target of $15.50. The company’s shares closed last Friday at $14.22, close to its 52-week high of $14.62.

According to TipRanks.com, Wedel is a 1-star analyst with an average return of -15.8% and a 50.0% success rate. Wedel covers the Financial sector, focusing on stocks such as Pennantpark Investment, Solar Capital, and Ares Capital.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TCG BDC with a $14.83 average price target.

See the top stocks recommended by analysts >>

Based on TCG BDC’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $36.4 million and net profit of $33.96 million. In comparison, last year the company earned revenue of $41.32 million and had a net profit of $38.16 million.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CGBD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

TCG BDC Inc a traded fund, invests in the US middle market companies with an EBITDA of $10 to $100 million. It targets companies operating across a broad range of sectors. The fund invests primarily in first lien senior secured and second lien senior secured loans. It also considers mezzanine loans and equity co-investments.

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