Newmark price target lowered to $14.50 from $18 at Keefe Bruyette

Keefe Bruyette analyst Jade Rahmani lowered the firm’s price target on Newmark (NMRK) to $14.50 from $18 and keeps an Outperform rating on the shares. While the Q1 results for the commercial real estate brokers should be solid, driven by capital markets and leasing growth, a weaker macro outlook shifts the focus to downside risk, the analyst tells investors in a research note. The firm reduced estimates ahead of the earnings reports.