(Updated to include BofA's commentary)
BofA Securities downgraded Runway Growth Finance (RWAY) to underperform from neutral, expecting profitability to continue to "disappoint."
The current earnings deterioration in Q1, rising non-accruals, and lower NAV/share, amplified by the challenging operating backdrop for technology/software credit and large position sizes, analyst Derek Hewet wrote in a Monday note.
Runway Growth Finance has an average rating of overweight and mean price target of $8.34, according to analysts polled by FactSet.
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Price: $5.83, Change: $-0.20, Percent Change: -3.30%