Rocket Companies price target lowered to $13 from $16 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Rocket Companies (RKT) to $13 from $16 and keeps an Equal Weight rating on the shares. The 2024 story was “one of stabilization,” as higher delinquencies moderated to the slowest pace in nearly three years. Looking to 2025, support should remain in place, with easing inflation, positive real wage growth, stable-to-lower interest rates, rational lending standards, says the firm, which sees consumer credit “on solid footing in 2025.”