Redwood Trust price target lowered to $8.50 from $9 at UBS

UBS lowered the firm’s price target on Redwood Trust to $8.50 from $9 and keeps a Buy rating on the shares. The path toward higher earnings has taken longer for Redwood Trust than expected, though the firm continues to see a path toward higher earnings in the coming quarters, the analyst tells investors in a research note. UBS adds that longer term, it sees Redwood Trust as a market share gainer in jumbo mortgages, which could drive higher returns and valuation.