Stock Performance: BlackRock TCP Capital (TCPC) shares rose 7% following positive developments in resolving challenged credits and improving portfolio quality, as stated by CEO Phil Tseng.
Q3 Financial Results: The company reported an adjusted net investment income per share of $0.30, matching consensus but down from previous quarters, with total investment income of $50.5M, slightly below expectations.
Net Asset Value and Operations: The net asset value per share remained stable at $8.71, with a net increase in net assets from operations of $24.4M for Q3, a significant improvement from the previous quarter's loss.
Portfolio Management: Non-accruals decreased to 3.5% of the portfolio's fair market value, and the average position size in new investments was reduced, leading to a more diversified and lower-risk portfolio.
Wall Street analysts forecast TCPC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TCPC is 6.25 USD with a low forecast of 5.50 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
Wall Street analysts forecast TCPC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TCPC is 6.25 USD with a low forecast of 5.50 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
1 Hold
1 Sell
Moderate Sell
Current: 5.100
Low
5.50
Averages
6.25
High
7.00
Current: 5.100
Low
5.50
Averages
6.25
High
7.00
Wells Fargo
Finian P. O'Shea
Underweight
downgrade
$6
2025-11-10
Reason
Wells Fargo
Finian P. O'Shea
Price Target
$6
AI Analysis
2025-11-10
downgrade
Underweight
Reason
Wells Fargo analyst Finian P. O'Shea lowered the firm's price target on BlackRock TCP Capital to $5.50 from $6 and keeps an Underweight rating on the shares following quarterly results. The firm says a post-quarter write-off of Renovo highlights the risk of restructured credits.
Keefe Bruyette
Paul Johnson
Market Perform
downgrade
$7
2025-11-07
Reason
Keefe Bruyette
Paul Johnson
Price Target
$7
2025-11-07
downgrade
Market Perform
Reason
Keefe Bruyette analyst Paul Johnson lowered the firm's price target on BlackRock TCP Capital to $7 from $7.50 and keeps a Market Perform rating on the shares.
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Wells Fargo
Finian P. O'Shea
Underweight
downgrade
$6
2025-08-12
Reason
Wells Fargo
Finian P. O'Shea
Price Target
$6
2025-08-12
downgrade
Underweight
Reason
Wells Fargo analyst Finian P. O'Shea lowered the firm's price target on BlackRock TCP Capital to $6 from $6.50 and keeps an Underweight rating on the shares. The firm says changes under BlackRock's new PFS don't seem to readily address the discounted valuation, and the dividend likely faces another leg down.
Keefe, Bruyette & Woods
Paul Johnson
Hold
Maintains
$8.5 → $7.5
2025-04-08
Reason
Keefe, Bruyette & Woods
Paul Johnson
Price Target
$8.5 → $7.5
2025-04-08
Maintains
Hold
Reason
About TCPC
BlackRock TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on direct lending to middle-market companies as well as small businesses. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests primarily in the debt of middle-market companies as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds. Such investments may include an equity component, and, to a lesser extent, it may make equity investments directly. It invests in various industries, including automobiles, Internet software and service, software, diversified financial services, diversified consumer services, health care technology, healthcare providers and services, media, construction and engineering, and real estate management and development, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
