Goldman Sachs BDC Upgraded Despite Revenue Miss

Goldman Sachs BDC (NYSE:GSBD) has been upgraded to 'hold' from a 'sell' rating by equities research analysts at Wall Street Zen. This change in rating comes after Goldman Sachs BDC reported its quarterly earnings, beating expectations with $0.37 earnings per share for the quarter.

The company's revenue was $35.08 million, compared to analysts' estimates of $78.89 million. Despite this mixed performance on revenue, Goldman Sachs BDC's net investment income was above expectations.

According to data from MarketBeat, Goldman Sachs BDC currently has an average rating of 'reduce' and an average target price of $8.50. Analysts at Bank of America have restated a rating of 'underperform', while Zacks Research upgraded shares of Goldman Sachs BDC from a 'strong sell' rating to a 'hold' rating.

Goldman Sachs BDC's primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies.