LoanDepot price target lowered to $1.50 from $2.25 at BofA

BofA lowered the firm’s price target on LoanDepot (LDI) to $1.50 from $2.25 and keeps an Underperform rating on the shares. The company reported a Q4 miss due to a lower margin and higher spending, the analyst tells investors in a research note. The firm believes additional initiatives are likely required for LoanDepot to achieve sustainable profitability, limiting the company’s near-term earnings visibility.