Mr. Cooper price target raised to $80 from $74 at Jefferies

Jefferies raised the firm’s price target on Mr. Cooper (COOP) to $80 from $74 and keeps a Hold rating on the shares. The firm notes that its Q1 EPS estimate for Mr. Cooper of $2.23 is above the Street’s estimate of $2.05 and that it models funded volume of $3.0B, up from $2.7B year-over-year and also up from $2.7B sequentially. While rates may push out the refinance wave, the firm is optimistic for purchase growth as housing supply thaws and shifts its recommendations in the real estate finance space back towards purchase-focused originators for the time being, including PennyMac Financial (PFSI) and UWM Holdings (UWMC), the analyst tells investors.