Paramount Group upgraded to In Line from Underperform at Evercore ISI

Evercore ISI upgraded Paramount Group to In Line from Underperform with a $5 price target. The stock’s current valuation seems to imply that the majority of the downside risk has now been priced in, the analyst tells investors in a research note. The firm cites the stock’s significant underperformance in 2023 for the upgrade. Additionally, Paramount has recently secured a few short-term positive achievements including the 2.5-year extension with KPMG at 55 Second Street in San Francisco and a favorable refinancing at One Market Plaza back in February, says Evercore ISI.