Raymond James lowered the firm’s price target on Starwood Property to $23 from $23.50 and keeps a Strong Buy rating on the shares following the “strong” Q1 results. Raymond James views Starwood’s diversification as a material differentiator versus peers and tells investors in a research note that the company continues to see the most compelling new investment opportunities in energy infrastructure lending, the Woodstar portfolio generates strong, stable returns, and servicing revenue is likely to increase moving forward as more loans move into active special servicing.
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