Keefe Bruyette analyst Jade Rahmani has revised the price target for Newmark Group (NMRK, Financial), reducing it from $18 to $14.50. Despite maintaining an "Outperform" rating on the stock, Rahmani expresses caution, highlighting potential downside risks due to a weaker macroeconomic environment.
The adjustment comes as the company is expected to release solid first-quarter results, primarily driven by growth in capital markets and leasing activities. However, the broader economic concerns have prompted the firm to temper expectations by lowering estimates prior to the earnings announcement.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Newmark Group Inc (NMRK, Financial) is $16.08 with a high estimate of $19.00 and a low estimate of $14.50. The average target implies an upside of 55.24% from the current price of $10.36. More detailed estimate data can be found on the Newmark Group Inc (NMRK) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Newmark Group Inc's (NMRK, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Newmark Group Inc (NMRK, Financial) in one year is $14.71, suggesting a upside of 41.99% from the current price of $10.36. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Newmark Group Inc (NMRK) Summary page.
