UBS lowered the firm’s price target on Ready Capital (RC) to $4.75 from $5 and keeps a Neutral rating on the shares. The commercial real estate market has been “showing signs of healing” after three challenging years, but the increased macro uncertainty of the past couple of weeks has lessened the confidence in the pace of the recovery, the analyst tells investors in a research note. The firm sees downside risk to book values and earnings power from incremental problem assets in Q1.
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