Rocket Companies price target raised to $13.50 from $11 at JPMorgan

JPMorgan analyst Richard Shane raised the firm’s price target on Rocket Companies to $13.50 from $11 and keeps an Underweight rating on the shares as part of a Q2 preview for the consumer finance group. The analyst is still projecting seasonal declines in net charge-offs through midyear with a seasonal rebound in Q4 and Q1 of 2025. “If sentiment remains unchanged, investors simply may not care about elevated losses,” the analyst tells investors in a research note. JPMorgan says credit-sensitive names could outperform due to positive earnings revisions from reserve releases.