Wells Fargo Downgrades Claros Mortgage Trust to Underweight, Announces $8 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Donald Fandetti has downgraded Claros Mortgage Trust (NYSE:CMTG) from Equal-Weight to Underweight, setting a price target of $8.
September 20, 2024 | 12:53 pm
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Wells Fargo has downgraded Claros Mortgage Trust to Underweight, with a new price target of $8, indicating a bearish outlook.
The downgrade from Equal-Weight to Underweight by a major financial institution like Wells Fargo suggests a negative outlook on CMTG's performance. The $8 price target indicates a potential downside, likely leading to a decrease in investor confidence and short-term stock price decline.
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