Mr. Cooper price target raised to $72 from $63 at Piper Sandler

Piper Sandler raised the firm’s price target on Mr. Cooper to $72 from $63 and keeps an Overweight rating on the shares post the Q2 results. This was another solid quarter for Mr. Cooper as earnings were better than expected, the company increased guidance for servicing income, and there are a series of one-time gains in the second half of 2023 that will drive book value higher, the analyst tells investors in a research note.