Piper Sandler upgraded Broadmark Realty Capital (BRMK) to Neutral from Underweight with a price target of $6, up from $3.75, after Ready Capital (RC) announced its intention to merge with Broadmark in an all-stock deal using an exchange ratio of 0.47233 times. The firm upgraded Broadmark to align the stock with its rating on Ready Capital.
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Published first on TheFly
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Read More on BRMK:
- BTIG remains bullish on Ready Capital following news of merger with Broadmark
- Broadmark Realty Capital rises 12.9%
- Broadmark Realty Capital rises 17.0%
- Broadmark Realty Capital rises 21.5%
- Ready Capital Snaps Up Broadmark
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