Sachem Capital Corp. (SACH) PT Lowered to $4 at Oppenheimer

Oppenheimer analyst Tyler Batory lowered the price target on Sachem Capital Corp. (NYSE: SACH) to $4.00 (from $4.50) while maintaining a Outperform rating.

The analyst commented: "We are updating our SACH model for 2Q24 earnings reported Wednesday (8/14) morning. Our 2024 EPS estimate is now $0.17 (prior $0.39), driven largely by an increased CECL provision for credit losses in Q2. Our 2025 EPS estimate moves to $0.44 (prior $0.42), as we are slightly more optimistic in the potential for improving industry fundamentals."

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