Credit Suisse analyst Douglas Harter downgraded Rocket Companies to Underperform from Neutral with a $7 price target. While the company is a long-term leader in the mortgage space, the challenging environment will continue to produce low returns in 2023 and into 2024, the analyst argues. With Rocket trading at close to 2.0t-times book value, Harter does not see potential upside from current levels.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on RKT:
- Rocket Companies price target raised to $6 from $4.50 at Barclays
- CEO of Rocket Companies Farner buys over $600K in company stock
- Rocket Companies put volume heavy and directionally bearish
- Rocket Companies call volume above normal and directionally bullish
- Short Report: Bears growl at crypto stocks amid FTX fallout
