UWM Holdings price target lowered to $7 from $8 at Jefferies

Jefferies lowered the firm’s price target on UWM Holdings to $7 from $8 and keeps a Buy rating on the shares. For Q3, the firm is “optimistic” for consistent and relatively positive reports quarter-over-quarter from the real estate finance group, but with a “negative bias” into Q4 outlooks given mortgage rate movements exacerbated by seasonality, the analyst tells investors in a preview note.