CGBD - Carlyle Secured Lending: Full Re-Rating Makes This 10% Yielder A Hold (Downgrade)

2024-03-15 09:28:57 ET

Summary

• Carlyle Secured Lending has re-rated to net asset value, limiting potential for further valuation upside.
• The business development company reported solid Q4 results, out-earning its dividend and raising it by 8%.
• With positive developments already reflected in the stock price, the appreciation potential is limited, leading to a Hold rating.

Carlyle Secured Lending Inc. ( CGBD ) has re-rated to net asset value, which diminishes the potential for incremental valuation upside, in my view....

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