What exactly changed in the GBDC analyst rating on Feb 06, 2026?

Wells Fargo maintained an **Overweight** rating but cut its price target to **$13** from **$14** on **Feb 06, 2026**. The action keeps a positive stance while lowering expected upside.

How should investors interpret an Overweight in the GBDC analyst rating?

An **Overweight** suggests analysts expect GBDC to outperform peers. Investors should weigh this view against dividend policy, credit trends, and the firm's **B+** Meyka grade.

Does the new GBDC price target indicate a downgrade?

The price target fell to **$13**, but the rating stayed **Overweight**. That is a target reduction, not a formal downgrade of the rating itself. It narrows expected upside.

Where can I find the Wells Fargo note and Golub’s latest earnings details?

Wells Fargo’s note summary appears at [TheFly](https://thefly.com/permalinks/entry.php/id4287467/8261286394/GBDC-Golub-Capital-price-target-lowered-by--at-Wells-Fargo-heres-why). Golub’s earnings transcript is on [Seeking Alpha](https://seekingalpha.com/article/4866794-golub-capital-bdc-gbdc-q1-2026

Analyst Ratings

Wells Fargo Maintains Overweight on GBDC Golub Capital BDC, Inc. Feb 2026

ByDanny Kontos February 9, 2026February 9, 2026

Wells Fargo on Feb 06, 2026 maintained an Overweight rating on Golub Capital BDC, Inc. (GBDC) while lowering its price target to $13 from $14. The move keeps analyst confidence but signals slightly reduced upside. The market digested the note with a small share change of -0.2% (-$0.03). This item ties to recent company updates about a $0.33 dividend reset and credit trends. Our coverage here reviews the GBDC analyst rating, the price target change, and what it means for investors.