In a report published Friday, Jefferies analyst Daniel Furtado initiated coverage on Ocwen Financial OCN with a Buy rating and $50.00 price target.
In the report, Jefferies noted, “We are initiating on OCN with a Buy rating and a $50PT. OCN is a top specialty servicer with a 70% cost advantage versus peers, giving it scale to acquire additional servicing UPB as banks continue to exit the business. Further, OCN recently boarded roughly $190B in GSE servicing, with income from HARP refi's expected rise in the coming months, even as margins are likely to come in.”
Ocwen Financial closed on Thursday at $42.47.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.