Bridge Investment initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Bridge Investment with an Overweight rating and $11 price target. The firm attributes its bullish stance to the favorable positioning for this year-to-date laggard in a decreasing interest rate scenario as real estate market conditions and sentiment are likely to improve, the analyst tells investors in a research note. Both operational performance at Bridge Investment and investor interest in the stock can improve dramatically, the firm added.