TD Cowen lowered the firm’s price target on AFC Gamma to $21 from $22 and keeps an Outperform rating on the shares. The analyst said amid the slower cannabis lending environment, the company is pivoting to deploy capital into CRE loans aiming for a 50-50 CRE/Cannabis split by year-end. We view the pivot positively given the higher credit quality of CRE versus cannabis.
Published first on TheFly
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