Apollo Commercial Real Estate Finance (ARI) stock surged 5.18% in the pre-market session on Tuesday, following a research report from KBW analyst Jade Rahmani.
Rahmani maintained a Hold rating on ARI but set a price target of $8.75 per share, implying an upside potential from the current stock price levels.
While the Hold rating reflects a neutral outlook from the analyst, the higher price target appears to have driven investors' optimism, resulting in a significant pre-market rally for ARI shares.
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