Compass Point analyst Giuliano Bologna raised the firm’s price target on Mr. Cooper (COOP) to $110 from $97 and keeps a Buy rating on the shares after the company reported $2.84 of adjusted EPS, which was well above consensus at $2.57 as the outperformance was driven by the originations segment. Mr. Cooper’s EPS should step up from current levels and based on the firm’s estimates, closing the acquisition of Flagstar’s mortgage operations should put the company on a trajectory to earn close to $14 per share in FY25, the analyst tells investors.
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