Newmark Group, Inc. (NMRK) PT Raised to $17 at Piper Sandler

Piper Sandler analyst Alex Goldfarb raised the price target on Newmark Group, Inc. (NASDAQ: NMRK) to $17.00 (from $13.00) while maintaining a Overweight rating.

The analyst commented, "OW-rated NMRK best positioned for CRE transactional rebound. We believe NMRK is the most operationally levered commercial broker to the burgeoning real estate recovery given its investment in high profile brokers domestically, the UK, and France. NMRK has more transactional income relative to peers, given that's been the core DNA of the platform, versus fee management. The pending rate cut by the Fed should boost multifamily refinancings, which is a boon for its mortgage platform."

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