Starwood Property price target lowered to $20 from $20.50 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on Starwood Property to $20 from $20.50 and keeps a Market Perform rating on the shares as part of Q2 earnings preview. Amid an ongoing commercial real estate credit cycle, the firm maintains a cautious commercial real estate investment truest stance while selectively recommending several long positions into earnings.