Rocket Companies price target raised to $14 from $12 at BofA

BofA raised the firm’s price target on Rocket Companies to $14 from $12 and keeps an Underperform rating on the shares ahead of the company hosting an investor day on Tuesday, September 10. The firm, whose analysis suggests Rocket is “reasonably well positioned to gain market share and drive high incremental margins over the next few quarters, increased its earnings forecasts, but calls the current valuation “much too high relative to peers across the consumer finance landscape given execution risk, competition, and dependence on interest rates.”