Blackstone Mortgage price target raised to $22 from $19 at Wells Fargo

Wells Fargo raised the firm’s price target on Blackstone Mortgage to $22 from $19 and keeps an Overweight rating on the shares. Commercial real estate has been the “unintended consequence” of Federal Reserve rate hikes, and with that reversing, commercial real estate investment trusts should see multiple expansion, the analyst tells investors in a research note.