Guild Holdings downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Richard Shane downgraded Guild Holdings to Neutral from Overweight with a price target of $13, down from $15.50. The analyst sees limited upside in the shares and lowered earnings estimates for 2024 and 2025 to reflect higher for longer interest rates. Higher mortgage rates following an increase in long-term yields could pressure origination volumes and the recent runup in Guild’s multiple reduces near-term upside potential, the analyst tells investors in a research note.