Carlyle Secured Lending downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Melissa Wedel downgraded Carlyle Secured Lending to Underweight from Neutral with an unchanged price target of $17. The firm says this is a relative valuation call. It does not have particular concerns with the portfolio or company as it sees stable dividend coverage above 100% through its forecast period and good credit trends. However, the shares are trading at a 7% premium to net asset value, which reflects a premium to peers, the analyst tells investors in a research note.