Oaktree Specialty Lending price target lowered to $20 from $21 at JMP Securities

JMP Securities analyst Brian McKenna lowered the firm’s price target on Oaktree Specialty Lending to $20 from $21 and keeps an Outperform rating on the shares ahead of the Q2 earnings report. Underlying trends in the period for business development companies were broadly consistent with the last several quarters, as capital markets slowly recover from the trough levels experienced the last two years, the analyst tells investors in a research note. The firm says Oaktree is a show-me story after a couple of tough quarters.