JPMorgan analyst Richard Shane lowered the firm’s price target on TPG RE Finance (TRTX) to $9.50 from $10.50 and keeps an Overweight rating on the shares. The firm adjusted targets in the mortgage real estate investment trust group as part of a Q1 preview. The macroeconomic environment “remains volatile and unpredictable,” the analyst tells investors in a research note. JPMorgan says higher rates “are more of a persistent headwind than a new challenge” at this point.
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