B of A Securities Downgrades Ares Comml Real Est to Underperform, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Eric Dray downgraded Ares Comml Real Est (ACRE) from Buy to Underperform and reduced the price target from $11 to $7.
March 04, 2024 | 1:02 pm
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NEGATIVE IMPACT
Ares Comml Real Est was downgraded from Buy to Underperform by B of A Securities, with a price target reduction from $11 to $7.
The downgrade from Buy to Underperform suggests a negative outlook on ACRE's stock by B of A Securities. The significant reduction in the price target from $11 to $7 further indicates a bearish view on the stock's future performance, likely leading to a negative short-term impact on ACRE's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100