Ready Capital price target lowered to $12.50 from $13 at Piper Sandler

Piper Sandler analyst Crispin Love lowered the firm’s price target on Ready Capital (RC) to $12.50 from $13 and keeps a Neutral rating on the shares following the company’s merger announcement with Broadmark Realty Capital (BRMK). Ready’s share pullback is "tempting," but credit quality will be a key focus over the next several quarters in light of the current environment, the analyst tells investors in a research note.