Onity Group upgraded to Buy from Neutral at BTIG

BTIG upgraded Onity Group (ONIT) to Buy from Neutral with a $40 price target as part of a broader research note previewing 2025 in Mortgage Finance. The stock valuation has barely improved since it refinanced/extended its unsecured debt last quarter, alongside other transactions aimed at stabilizing its capital structure and deliberately leaning towards a “capital light” model, the analyst tells investors in a research note. The company’s Q4 results will reflect one-time transaction costs, but at its current valuation, the company only needs to show some consistency in not losing money, especially when peers put up good results, the analyst tells investors in a research note.