Wells Fargo Downgrades Claros Mortgage Trust to Equal-Weight, Lowers Price Target to $11
Portfolio Pulse from richadhand@benzinga.com
Wells Fargo analyst Donald Fandetti has downgraded Claros Mortgage Trust (NYSE:CMTG) from Overweight to Equal-Weight and lowered the price target from $13 to $11.
August 04, 2023 | 12:43 pm
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Claros Mortgage Trust has been downgraded by Wells Fargo from Overweight to Equal-Weight, with a reduced price target of $11.
The downgrade from Overweight to Equal-Weight by Wells Fargo indicates a less optimistic outlook for Claros Mortgage Trust. The reduction in price target from $13 to $11 also suggests that the analyst believes the stock may underperform in the short term. This could potentially lead to a decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100