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Palmer Square downgraded to Perform from Outperform at Oppenheimer

Oppenheimer analyst Mitchel Penn downgraded Palmer Square (PSBD) to Perform from Outperform with a price target of $14, down from $17. The firm cites credit volatility for the downgrade post the Q1 report. The analyst raised the stock’s discount rate to reflect volatility of return on equity and elevated credit losses.

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