Wedbush downgraded Walker & Dunlop to Neutral from Outperform with a price target of $95, down from $130. The firm also removed the stock from its “Best Ideas List.” Higher integrates rates and rate volatility could keep transaction the company’s volumes subdued this year, the analyst tells investors in a research note. The firm is confident that transaction and origination volumes will increase incrementally in 2024 compared to 2023 overall, but fears that higher rates could limit the amount of maturing loans that are inevitably refinanced by Walker & Dunlop.
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