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UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Redwood Trust

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In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Redwood Trust (NYSE: RWT), and raised its price target from $14.50 to $16.50.

Jefferies noted, “We see the combined effects of BASEL III, Dodd-Frank, and GSE reform as attempting to shift mortgage risk away from taxpayers towards private capital. As the only player with consistent post-crisis new issuance history, we view RWT as a primary beneficiary of these efforts. This research piece outlines RWT's evolving business model and how we foresee RWT benefiting from residential mortgage reform.”

Redwood Trust closed on Tuesday at $15.20.

Latest Ratings for RWT

DateFirmActionFromTo
Jul 2016Keefe Bruyette & WoodsDowngradesOutperformMarket Perform
May 2016NomuraUpgradesNeutralBuy
May 2016Deutsche BankMaintainsBuy

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