Rithm Capital price target raised to $11 from $10.50 at JMP Securities

JMP Securities analyst Trevor Cranston raised the firm’s price target on Rithm Capital to $11 from $10.50 and keeps an Outperform rating on the shares. The fourth quarter was characterized by extreme shifts in interest rates and agency MBS spreads, with rates and spreads continuing their third quarter sell-offs into October before rapidly reversing course as market expectations around Fed policy rates shifted dramatically, the analyst tells investors in a research note.