TCP Capital loses Buy rating at Deutsche

|About: TCP Capital (TCPC)|By:, SA News Editor

It's a valuation call for analyst Stephen Laws, noting the stock price about matches his price target of $17.50, a 15% premium to NAV.

He's also lowering his 2014 NII estimates to reflect lower yields on new investments, but an increase in leverage should help boost portfolio income.

TCPC no trades premarket.