Ares Commercial price target lowered to $5.50 from $6 at JPMorgan

JPMorgan analyst Richard Shane lowered the firm’s price target on Ares Commercial (ACRE) to $5.50 from $6 and keeps a Neutral rating on the shares. The firm adjusted targets in the mortgage real estate investment trust group as part of a Q1 preview. The macroeconomic environment “remains volatile and unpredictable,” the analyst tells investors in a research note. JPMorgan says higher rates “are more of a persistent headwind than a new challenge” at this point.