Apollo Commercial upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Apollo Commercial (ARI) to Overweight from Neutral with a price target of $10.50, up from $10. The firm believes the company has made progress resolving its “troubled” loans and is well positioned to redeploy capital into interest earning assets. As Apollo Commercial’s portfolio returns to growth mode, it creates a setup for higher net interest income and greater earnings potential, the analyst tells investors in a research note.