Citizens analyst Chris Muller upgraded TPG RE Finance (TRTX) to Outperform from Market Perform with a $10 price target which offers 34% potential upside. TPG RE is focused on growing its loan portfolio, while credit quality “remains strong” with no 5-rated loans, the analyst tells investors in a research note. Citizens models for a modest dividend increase to 25c per quarter in Q1 of fiscal 2027 as the portfolio ramps up.
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