Blackstone Mortgage price target lowered to $18 from $19.50 at UBS

UBS lowered the firm’s price target on Blackstone Mortgage (BXMT) to $18 from $19.50 and keeps a Neutral rating on the shares. Recent macro uncertainty has led the firm to lower price targets for commercial mortgage REITs by 17% on average as it contends that the uncertainty is likely to delay the sector’s recovery.