Sachem Capital price target lowered to $2.50 from $4 at Oppenheimer

Oppenheimer lowered the firm’s price target on Sachem Capital (SACH) to $2.50 from $4 and keeps an Outperform rating on the shares following the Q3 earnings report. Oppenheimer now sees Sachem reporting 2024 EPS of (57c) vs. its prior estimate of 17c, driven by an expectation for losses related to the loan sales, and now sees 2025 EPS of 26c vs. its prior estimate of 44c, due to the smaller loan portfolio and an elongated view of the recovery trajectory, the analyst tells investors in a research note.