Jefferies lowered the firm’s price target on Rocket Companies to $8.50 from $11 and keeps a Hold rating on the shares. For Q3, the firm is “optimistic” for consistent and relatively positive reports quarter-over-quarter from the real estate finance group, but with a “negative bias” into Q4 outlooks given mortgage rate movements exacerbated by seasonality, the analyst tells investors in a preview note.
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Read More on RKT:
- First of Long Island partners with Rocket Mortgage to expand financing options
- Rocket Companies put volume heavy and directionally bearish
- Rocket Companies price target lowered to $9.25 from $11.50 at Keefe Bruyette
- Rocket Companies call volume above normal and directionally bullish
- Unusually active option classes on open October 2nd
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