Evercore ISI analyst Steve Sakwa downgraded JBG Smith to Underperform from In Line with a price target of $15, down from $16. The analyst cites the company’s “substantial” lease rollover the next 18 months, its higher leverage, and relative valuation for the downgrade. The firm does not see lots of share downside, but thinks other office stocks offer better value, lower lease rolls and stronger balance sheets.
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