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Why Sixth Street Specialty Lending (TSLX) Shares Are Trading Lower Today

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What Happened?

Shares of business development company Sixth Street Specialty Lending (NYSE: TSLX) fell 2.4% in the afternoon session after JP Morgan downgraded its rating on the company's stock from Overweight to Neutral. The firm, led by analyst Melissa Wedel, also set a new price target of $24.00 for the shares. An analyst downgrade from a rating like "Overweight" to "Neutral" typically signals a reduced expectation for the stock's performance. It suggests that the analyst no longer believed the stock would outperform the broader market or its sector in the near term. This change in outlook prompted some investors to sell their shares.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Sixth Street Specialty Lending? Access our full analysis report here, it’s free.

What Is The Market Telling Us

Sixth Street Specialty Lending’s shares are not very volatile and have had no moves greater than 5% over the last year.

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