Freedom Broker analyst Zhiger Kurmet downgraded Amrep (AXR) to Hold from Buy with a price target of $30, up from $23. The company faces challenges from its customer concentration in land development and the softening New Mexico housing market, the analyst tells investors in a research note. Freedom cites the stock’s recent rally for the downgrade.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AXR: