Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Evercore ISI Added Paramount To Its 'Tactical Underperform' List

Evercore ISI NYSE Paramount Group
  • Evercore ISI analyst Steve Sakwa added Paramount Group Inc (NYSE:PGRE) to the firm's "Tactical Underperform" list.
  • Sakwa does not expect Monarch Alternative Capital's offer to translate into an accepted buyout offer.
  • The $12 offer falls short of his current net asset value per share estimate of $13.62 and his forward NAV estimate of just over $14.50 per share.
  • He maintained an In-Line rating and $11 price target (5.8% upside) on Paramount Group shares, arguing that the downside price could be $9.50-$10.00 depending on the macro environment and noting that this "isn't too far from where the stock was trading before news of the offer hit."
  • Price Action: PGRE shares traded lower by 4.35% at $10.34 on the last check Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
New Pentagon report on UFOs includes hundreds of new incidents but no evidence of aliens
A new report from the Pentagon has revealed hundreds of new reports of unidentified aircraft and aerial phenomena, but no indications of extraterrestrial life
The Independent UK
The Independent UK
People are still amazed that Toy Story 4's cobwebs were made by AI spiders
And it's generating a fierce debate.
Creative Bloq
Creative Bloq
One Scrapped 'Deadpool 3' Idea Could Have Made Him MCU Canon
'Deadpool & Wolverine' nearly featured a "deleted scenes extravaganza" that would have retconned the MCU in a major way.
Inverse
Inverse
James Bond: next actor will be in his 30s and ‘whiteness is not a given’
In interview 007 producer Barbara Broccoli says actor who takes on role will offer ‘something new and different’
The Guardian - US
The Guardian - US
Margot Robbie had an unusual Titanic ritual while working with Leonardo DiCaprio
Margot Robbie had an unusual Titanic ritual while working with Leonardo DiCaprio
Marie Claire
Marie Claire
Using abbreviations in text messages comes across as less sincere, study finds
People who use abbreviations were less likely to receive responses, analysis by psychologists found
The Guardian - UK
The Guardian - UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play