Ares Capital price target raised to $22 from $21 at B. Riley

B. Riley raised the firm’s price target on Ares Capital (ARCC) to $22 from $21 and keeps a Neutral rating on the shares. Ares Capital continues to justify its premium valuation, which the firm thinks is sustainable, and B. Riley sees the potential for a dividend increase in early 2025 if macro and rate visibility improves, the analyst tells investors in a research note.