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BofA downgrades ESR Cayman to 'neutral' following ARA Asset Management acquisition

Felicia Tan
Felicia Tan • 3 min read
BofA downgrades ESR Cayman to 'neutral' following ARA Asset Management acquisition
The brokerage has also lowered its target price estimate to HK$26.50 ($4.63) from HK$31 previously.
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Bank of America (BofA) Securities has downgraded ESR Cayman to “neutral” from “buy” with a lower target price of HK$26.50 ($4.63) from HK$31 previously following its announced bid on ARA Asset Management on Aug 4.

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ESR Cayman Ltd.
BofA Securities

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