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Truist Financial Sticks to Their Buy Rating for Ares Capital (ARCC)

Tipranks - Tipranks - Fri Feb 6, 6:58AM CST

Truist Financial analyst Arren Cyganovich reiterated a Buy rating on Ares Capital today and set a price target of $23.00.

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According to TipRanks, Cyganovich is a 5-star analyst with an average return of 18.4% and a 66.28% success rate. Cyganovich covers the Financial sector, focusing on stocks such as Main Street Capital, Blue Owl Capital, and MidCap Financial Investment Corporation.

In addition to Truist Financial, Ares Capital also received a Buy from TipRanks – Google’s Google Asset Management in a report issued today. However, on the same day, TipRanks – OpenAI downgraded Ares Capital (NASDAQ: ARCC) to a Hold.

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Based on Ares Capital’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $655 million and a net profit of $404 million. In comparison, last year the company earned a revenue of $613 million and had a net profit of $394 million

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