Jackson Financial reports Q3 adjusted EPS $4.24, consensus $2.90

Morgan Stanley downgrades Paramount Group on earnings headwinds

Trading Now: Morgan Stanley downgrades Paramount Group on earnings headwinds

Morgan Stanley analyst Ronald Kamdem downgraded Paramount Group to Equal Weight from Overweight with a price target of $6.50, down from $8. Office real estate investment trusts face headwinds from interest expense, higher operating expenditures and tenant move outs in 2023, Kamdem tells investors in a research note. The analyst believes a more challenging capital market environment may make unlocking the private market value of Paramount more challenging in the intermediate term. He sees a higher likelihood of earnings growth headwinds given the company’s three large lease expirations over the next two years.

Published first on TheFly

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