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Deutsche Bank has upgraded Rocket Cos Inc. to a "Buy" rating with a target price of $16, following its $9.4 billion acquisition of Mr. Cooper Group, which is expected to enhance market share and stabilize earnings. The acquisition could lead to a 38% increase in earnings per share by 2027 and aims to position Rocket as a leading mortgage servicer with a projected 17% market share. Despite some analysts maintaining lower ratings, the strategic move is seen as pivotal for Rocket's long-term objectives and financial growth.
Barclays analyst Terry Ma has reiterated an underweight rating for Rocket Companies Inc. (NYSE: RKT), maintaining a price target of $10.00. Despite a 22% year-to-date return and plans to acquire Mr. Cooper for $9.4 billion and Redfin for $1.75 billion, concerns over rising corporate leverage have emerged, with Fitch Ratings placing Rocket Mortgage's ratings under negative watch. The company's strong financial metrics, including a market capitalization of $24 billion and a 35% revenue growth, contrast with its high P/E ratio of 62.7, indicating a complex outlook amid strategic expansion efforts.
Barclays analyst Terry Ma has reiterated an underweight rating on Rocket Companies Inc. with a price target of $10, despite a 22% year-to-date stock return. The company is set to acquire Mr. Cooper in a $9.4 billion all-stock deal, expected to enhance its servicing portfolio and operational efficiency.Rocket Companies also plans to acquire Redfin for $1.75 billion, aiming to integrate its online real estate services with digital mortgage lending. Fitch Ratings has placed Rocket Mortgage's ratings under negative watch due to anticipated leverage increases, while Mr. Cooper's ratings are under positive watch following the merger announcement.
Barclays has raised its price target for Discover Financial Services from $186 to $209, maintaining an Overweight rating after the company reported an impressive Q4 2024, with EPS of $5.11, significantly above expectations. The stock, currently at $200.96, has seen a 100.72% return over the past year, driven by strong net income growth and improved card delinquency rates. Discover is also preparing for a merger with Capital One, anticipating $125 million in related costs for 2024.
Barclays analyst Terry Ma has raised the price target for Discover Financial (NYSE: DFS) to $209.00, up from a previous target of $186.00. This adjustment reflects the firm's ongoing confidence in the company's performance.
Terry Ma
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deutsche bank upgrades rocket companies to buy following major acquisition announcement
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