Evercore ISI analyst Steve Sakwa lowered the firm’s price target on JBG Smith to $14.50 from $16 and keeps an Underperform rating on the shares. Citing higher interest expense, added G&A and higher carrying costs for future development projects, the firm is reducing its FY24 and FY25 FFO estimates by 14% and 26%, respectively, ahead of JBG’s Q1 report slated to be released after the market close on Tuesday, April 30.
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