UWM Holdings price target raised to $8.50 from $7 at Wedbush

Wedbush analyst Jay McCanless raised the firm’s price target on UWM Holdings to $8.50 from $7 and keeps a Neutral rating on the shares. The firm notes UWM reported adjusted EPS that was in-line with its estimate, but below consensus expectations. The broker channel continues to see market share gains, and the company is preparing for a potential refinance boom if rates do in fact trend lower over the next few quarters, as currently implied by the forward curve, Wedbush adds.