Keefe Bruyette analyst Bose George downgraded UWM Holdings to Underperform from Market Perform with an unchanged price target of $3.50. The analyst anticipates another challenging year for the mortgage sector in 2023 as he expects volumes to decline another 23%. His estimates assume home prices will fall by 12.5%, which he sees as "quite conservative" given KBW’s expectation for a modest economic downturn. George downgraded UWM Holdings on valuation.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on UWMC:
