Paramount Group Shares Soar 2.31% on Evercore ISI Upgrade

Paramount Group (PGRE) shares surged 2.31% today, marking the sixth consecutive day of gains, with a total increase of 27.15% over the past six days. The stock price reached its highest level since December 2023, with an intraday gain of 2.66%.

The strategy of buying PGRE shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years. The recent high point at $5.75 on May 20, 2025, was followed by a 19.4% gain in the subsequent week. However, the stock experienced fluctuations, with a low point at $3.75 on April 7, 2025, during which time the company's management underwent changes. Overall, while the strategy captured some of the stock's volatility, it did not fully capitalize on the longer-term potential of the stock.

The recent surge in Paramount Group's stock price can be largely attributed to the upgrade by Evercore ISI Group. On May 20, 2025, Evercore ISI upgraded Paramount Group's stock from 'In-Line' to 'Outperform'. This upgrade was influenced by the company's announcement of exploring strategic alternatives, which has sparked investor interest and optimism. The strategic review by Paramount Group has been seen as a positive move, indicating the company's proactive approach to enhancing shareholder value.

Evercore ISI analyst Steve Sakwa set a new price target of $8, up from $4.50, following the company's strategic review. This significant increase in the price target reflects the analyst's confidence in Paramount Group's future prospects and its ability to execute on its strategic initiatives. The upgrade and the new price target have been key factors contributing to the stock's recent performance, as investors anticipate potential benefits from the company's strategic alternatives.