JBG Smith price target lowered to $14 from $15 at Evercore ISI

Evercore ISI lowered the firm’s price target on JBG Smith to $14 from $15 and keeps an Underperform rating on the shares. As part of the firm’s Q3 office REITs preview, the analyst “slightly increased” estimates for FY23 and continues to “selectively recommend a few office REITs.” However, even though the firm is hearing about some green shoots in a few markets like San Francisco and New York, the firm needs to see better leasing activity in order to believe the Q3 rally is sustainable, the analyst added.