Mr. Cooper price target raised to $85 from $80 at Wedbush

Wedbush raised the firm’s price target on Mr. Cooper to $85 from $80 and keeps an Outperform rating on the shares. The firm notes the company reported solid results above Wedbush’s and consensus’ estimates, and grew tangible book from $62.78 to $63.67 per share sequentially. Based on consensus estimates, management noted that they expected TBV to exceed $70 per share by year-end 2024, and expected $10.00 or more in operating EPS in 2025, above the firm’s prior estimate of $9.55.