UBS lowered the firm’s price target on Granite Point Mortgage (GPMT) to $2.50 from $3.50 and keeps a Buy 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.
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Read More on GPMT:
- Granite Point Mortgage price target lowered to $2.50 from $2.75 at Keefe Bruyette
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