Imperial Capital Cuts Price Target on Newcastle Investment (NCT) to $4; Reiterates In-Line

Imperial Capital reiterated an In-Line rating on Newcastle Investment (NYSE: NCT), and cut the price target to $4.00 (from $4.50), following corporate Structure changes.

Analyst George Kelly commented, "We are maintaining our In-Line rating and lowering our one-year price target to $4 from $4.50. Our price target is about 8% below the recent share price. We see potential for near-term choppiness in the stock as Newcastle transitions away from its dividend and REIT status and invests substantial capital into growing the Drive Shack concept."

For an analyst ratings summary and ratings history on Newcastle Investment click here. For more ratings news on Newcastle Investment click here.

Shares of Newcastle Investment closed at $4.31 yesterday.

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