BUZZ-Bridge Investment slides after JPM downgrades to 'neutral'

Reuters

Jan 08, 2025

BUZZ-Bridge Investment slides after JPM downgrades to 'neutral'

** Shares of alternative investment manager Bridge Investment Group BRDG.N slide as much as 9.4%; last down 6.4% at $7.77

** J.P. Morgan downgrades BRDG to "neutral" from "overweight"; cuts PT to $10 from $12, which is still a 20.5% upside to stock's last close

** Brokerage notes that the operating environment in the real estate segment has changed substantially under the new higher-for-longer rate regime, which presents new risks for real estate-centric managers such as BRDG

** Adds that BRDG's Fund VI fundraising has been challenged thus far, due to which it has lowered the fundraising estimates

** BRDG could see slower growth if recent commercial real estate underperformance compared to other asset classes persists

** One of five brokerages rate the stock "buy" and four "hold"; median PT $10.50 - LSEG data

** BRDG stock fell 14.1% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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Morgan downgrades BRDG to \"neutral\" from \"overweight\"; cuts PT to $10 from $12, which is still a 20.5% upside to stock's last close</p><p>** Brokerage notes that the operating environment in the real estate segment has changed substantially under the new higher-for-longer rate regime, which presents new risks for real estate-centric managers such as BRDG</p><p>** Adds that BRDG's Fund VI fundraising has been challenged thus far, due to which it has lowered the fundraising estimates      </p><p>** BRDG could see slower growth if recent commercial real estate underperformance compared to other asset classes persists   </p><p>** One of five brokerages rate the stock \"buy\" and four \"hold\"; median PT $10.50 - LSEG data    </p><p>** BRDG stock fell 14.1% in 2024</p><p> (Reporting by Arasu Kannagi Basil in Bengaluru)</p><p> ((ArasuKannagi.Basil@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BRDG","symbol_name":"Bridge Investment Group Holdings Inc.","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250107:nL4N3O31H5:1","article_id":"2501739396","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501739396","pubTimestamp":1736277009,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Bridge Investment slides after JPM downgrades to 'neutral' ** Shares of alternative investment manager Bridge Investment Group BRDG.N slide as much as 9.4%; last down 6.4% at $7.77** J.P. 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