UWM Holdings price target lowered to $5.50 from $6.75 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on UWM Holdings to $5.50 from $6.75 and keeps a Market Perform rating on the shares. The higher interest rate environment is likely to put incremental pressure on origination volumes but bolster servicing returns, the analyst tells investors in a research note. The firm trimmed estimates for the mortgage originators, assuming mortgage volumes remain weak through 2025.