Main Street Capital downgraded to market perform by Raymond James

Main Street Capital Corp. shares fell 0.6% in premarket trades Monday after Raymond James analyst Robert Dodd downgraded the stock to market perform from outperform, based on valuation. “With the shares currently trading at the upper end of the historic trading range, we see limited upside to net asset value per share in the near-term with what appear to be economic headwinds which should potentially moderate equity appreciation and dividend income,” Dodd said in a research note. The business development company, which lends money to businesses, has a portfolio that remains in “solid shape, with no discernable deterioration in credit quality,” Dodd said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.