Walker & Dunlop price target lowered to $105 from $108 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on Walker & Dunlop to $105 from $108 and keeps a Market Perform rating on the shares. The analyst reduced estimates post the Q4 report on lower government-sponsored enterprise originations given a flattish outlook and delayed capital markets recovery. However, Walker & Dunlop’s business remains resilient driven by servicing income, high-margin fee revenue, and leading market share, presenting the potential for upside in market recovery, the analyst tells investors in a research note.