BTIG upgraded UWM Holdings to Buy from Neutral with a $6 price target. There remains a valuation disparity between non-bank mortgage originators, which the firm thinks is driven largely by differences in operational scale and interest rate sensitivity. While possible that mortgage rates can go higher from here, the firm thinks the stock’s current valuation reflects “very low potential for earnings upside if rates stabilize or fall,” the analyst tells investors.
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Read More on UWMC:
- UWM Holdings price target lowered to $5.50 from $6.75 at Keefe Bruyette
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