BofA resumed coverage of Apollo Commercial with a Neutral rating and $11.50 price target following the successful sale of its $9B CRE portfolio to affiliate Athene at a purchase price representing 99.7% of carrying value. The firm's 2026 and 2027 EPS forecasts of 53c and 33c do factor in the impact of the portfolio sale, but do not incorporate Apollo Commercial's forthcoming strategic initiatives, the analyst tells investors.
