Walker & Dunlop price target raised to $105 from $90 at Wedbush

Wedbush analyst Henry Coffey raised the firm’s price target on Walker & Dunlop to $105 from $90 and keeps an Outperform rating on the shares. Walker & Dunlop reported a weaker than expected quarter and FY23 guidance was reiterated, but the low end of guidance was indicated to be the “most likely outcome” given suppressed volumes, the analyst tells investors in a research note. The firm sees incremental growth in volumes in 2H, assuming that rates see some stability and that banks continue to pull back from CRE lending.