Ocwen price target lowered to $30 from $35 at Keefe Bruyette

Keefe Bruyette analyst Bose George lowered the firm’s price target on Ocwen to $30 from $35 and keeps a Market Perform rating on the shares. The higher interest rate environment is likely to put incremental pressure on origination volumes but bolster servicing returns, the analyst tells investors in a research note. The firm trimmed estimates for the mortgage originators, assuming mortgage volumes remain weak through 2025.