Ladder Capital price target lowered to $12.00 from $12.50 at JMP Securities

JMP Securities analyst Steven DeLaney lowered the firm’s price target on Ladder Capital to $12.00 from $12.50 and keeps an Outperform rating on the shares. Rising interest rates remain a tailwind to earnings, with the increase in one-month LIBOR in Q2 alone generating an additional 10c per share of annual NII, the analyst tells investors in a research note. The firm believes Ladder shares offer an attractive investment opportunity over the next 12 to 24 months.