Keefe Bruyette initiated coverage of Sunrise Realty Trust (SUNS) with an Outperform rating and $12.75 price target which represents 22% potential upside verses current levels. The company’s focus on the southern U.S. and residential properties as well as its “favorable” credit profile help mitigate above-average execution risk from its participation in construction loans and subordinate debt, the analyst tells investors in a research note. Keefe views stock’s risk/reward profile favorably.
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