QC/ALM || Unable to update "Target Cycle" correspoding to a defect

'QC Connection Line of Code

Set BugFact = QCConnection.BugFactory
Set BugFilter = BugFact.Filter

BugFilter.Filter("BG_BUG_ID") = DefectID

Set BugList = BugFact.NewList(BugFilter.Text)

For Each bglist In BugList
            blnTargetCycle = False: blnSummary = False
            If TargetCycle <> "" Then
                bglist.Field("BG_TARGET_RCYC").Name = Chr(34) & TargetCycle & Chr(34)
                blnTargetCycle = True
            End If
           
            If Trim(bglist.Summary) <> Summary Then
                bglist.Summary = Summary
                blnSummary = True
            End If
           
            If blnTargetCycle Or blnSummary Then
                shtDefect.Cells(iRow, 8) = "Defect Record Updated"
                bglist.Post
            End If
Next '#bglist

Above is the code that I've written, but getting error description as "Object required".  TargetCycle is of "Releases\ABC Products\Prod1\Release 26+\Release 26+ E2E Regression" format.

Any help would be appreciated