UWM Holdings price target lowered to $6.50 from $7 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on UWM Holdings (UWMC) to $6.50 from $7 and keeps a Market Perform rating on the shares. The firm reduced price targets for the mortgage originators citing the higher interest and mortgage rate backdrop and the prospect of “muted” mortgage volumes in the seasonally slower winter months. Keefe expects mortgage rates to remain above 6% over the course of 2025 and sees limited near-term catalysts for mortgage rates to move materially lower, the analyst tells investors in a research note. The firm says the stock tends to trade inversely with the 10-year U.S. Treasury yield, so in the event rates do decline meaningfully there would likely be upside to shares. However, Keefe is expecting significantly lower rates in the near term.