Raymond James analyst Stephen Laws lowered the firm’s price target on Redwood Trust to $10 from $11 and keeps a Strong Buy rating on the shares. The firm says that while the company’s Q4 results were below estimates, its long-term thesis of book value growth remains intact given Redwood’s discount on securities portfolio and "strong" underlying credit performance.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on RWT: