BlackRock TCP Capital

TCPC · NASDAQ

$4.09−$0.02 (−0.49%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $4.11

TCPC analyst rating

HoldConsensus of 2 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold2
Underperform0
Sell0

12-month price target · 5 analysts

Average $4.59 (+12.2% upside)

Low: $4.04
Now: $4.09
High: $5.78

Upgrades and downgrades

The latest rating actions, newest first

TCPC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Sep 29, 2026	Upgrade	Underweight → Equal-Weight	$3.50 → $4.00	50%
Keefe, Bruyette & Woods	Aug 10, 2026	Upgrade	Underperform → Market Perform	$3.50 → $4.00	36%
Keefe, Bruyette & Woods	Mar 3, 2026	Downgrade	Market Perform → Underperform	$7.00 → $3.50	36%
Wells Fargo	Mar 2, 2026	Maintains	Underweight	$5.50 → $3.50	50%
Wells Fargo	Nov 10, 2025	Maintains	Underweight	$6.00 → $5.50	50%

The case for and against

Updated Nov 27, 2024

Bull case

BlackRock TCP Capital Corp. has demonstrated a robust operating return on equity (ROE), enhanced by the current elevated base rates, which positions the company favorably for income generation. While non-accruals increased due to challenges faced by certain sectors, the overall liability structure remains diversified with multiple investment-grade credit ratings, contributing to financial stability. The company’s ongoing ability to cover dividends through operating earnings further supports a positive outlook, despite recent fluctuations in portfolio performance.

Bear case

BlackRock TCP Capital Corp's negative outlook is primarily influenced by its annualized net income return on equity (ROE) of -7.2% and a significant net loss of $38.4 million in the fourth quarter, leading to a reported loss of $0.23 per share. The company's net asset value (NAV) experienced a decline of 6.4%, dropping to $11.90, compounded by unfavorable credit-specific marks on several investments and a special dividend that failed to offset the overall deterioration in NAV. Additionally, waning credit quality, evidenced by increased non-accruals and rising competition for loans resulting in shrinking loan yields, casts further doubt on the sustainability of future returns amid a potentially weakening economic environment.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.