Wells Fargo downgraded Rocket Companies to Equal Weight from Overweight with a price target of $14, up from $13. The stock is up 32% since the Fed pivot on December 13th, the analyst tells investors in a research note, stating that the firm’s downgrade reflects the stock’s current valuation. Wells Fargo adds however that it remains constructive on the company’s ability to take market share, along with its best-in-class tech and data for AI.
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