JPMorgan Downgrades Ares Commercial (ACRE) to Neutral
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JPMorgan downgraded Ares Commercial (NYSE: ACRE) from Overweight to Neutral with a price target of $14.00 (from $13.00).
Analyst Richard Shane believes shares are fairly valued as the equity approaches his price target. The analyst believes multiple expansion will be limited due to a combination of scale limitations and industry spread compression.
Shares of Ares Commercial closed at $14.00 yesterday.
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