Starwood Property price target raised to $21 from $19 at BTIG

BTIG raised the firm’s price target on Starwood Property to $21 from $19 and keeps a Buy rating on the shares. The analyst updates the firm’s model after the company’s recently announced capital raise, saying the convertible debt offering provides the additional flexibility to weather potential storms in the second half of the year. Starwood’s execution also reinforces the broader theme that the sector should remain focused on liquidity, the firm tells investors in a research note.