Jefferies analyst Matthew Hurwit downgraded Advanced Flower Capital (AFCG) to Hold from Buy with a price target of $7, down from $10. The firm cites ongoing credit uncertainty for the downgrade, with approximately 39% of Advanced Flower’s loans on non-accrual as of Q4. The ultimate recovery on these loans is uncertain, as is the timing of recoveries, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AFCG:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue