Keefe Bruyette analyst Bose George keeps an Outperform rating on Rithm Capital (RITM) with an $11.50 price target after Dan Och, who controls 12.5% of Stellus Capital’s (SCM) votes, stated Rithm’s proposed buyout “substantially undervalues the company and shareholders.” The analyst continues to expect the transaction to be consummated, but says it is possible there could be a price adjustment. However, with Rithm trading at 84% of tangible book, the stock has limited downside, contends Keefe.
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Read More on RITM:
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