TriplePoint Venture Growth BDC jumps after KBW upgrades to 'market perform'

TriplePoint Venture Growth BDC

07/11/2024 20:39

** Shares of financing provider TriplePoint Venture Growth
BDC  TPVG.N  jump as much as 12.3%; last up 11.2% at $7.58
    ** KBW upgrades TPVG to "market perform" from
"underperform", citing credit improvement and fee waiver
commitment to cover the dividend through 2025
    ** TPVG's commitment ensures $1.20 dividend next year - KBW
    ** Brokerage says that while TPVG still has some challenged
investments to work through, it believes the risk is
appropriately priced at current levels
    ** All eight brokerages rate the stock "hold"; their median
PT is $7.50 - LSEG data
    ** As of last close, TPVG shares down 37.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))