Redwood Trust price target raised to $9 from $8.50 at JMP Securities

JMP Securities analyst Steven DeLaney raised the firm’s price target on Redwood Trust to $9 from $8.50 and keeps an Outperform rating on the shares. The firm is maintaining its 2024 EAD/core earnings per share estimate at 55c while raising its 2025 EAD per share estimate to 80c from 75c after taking into account Q2 results, current interest rate projections, and market conditions, the analyst tells investors in a research note.