Sixth Street downgraded to Neutral from Buy at B. Riley

B. Riley downgraded Sixth Street Specialty Lending to Neutral from Buy with an unchanged price target of $22. The analyst cites limited perceived upside and the potential for an equity offering, which could pressure the stock over the short term, for the downgrade. The firm is no longer including a special dividend in the next quarter or two given Sixth Street’s net balance leverage is in the top half of its 90%-125% targeted range.