TriplePoint Venture downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst Crispin Love downgraded TriplePoint Venture to Neutral from Overweight with a price target of $13.50, down from $14.50. The analyst believes the market has not fully priced in the credit risk and write-down from the Medly Health bankruptcy and potential future credit issues given volatility in the tech sector. Medly Health, one of TriplePoint’s portfolio companies, filed for bankruptcy, Love tells investors in a research note. He finds TriplePoint ‘s credit risk concerning.