UPDATE: Keefe, Bruyette & Woods Downgrades Walker & Dunlop on Valuation
In a report published Wednesday, Keefe, Bruyette & Woods analyst Bose George downgraded the rating on Walker & Dunlop (NYSE: WD) from Outperform to Market Perform, but raised the price target from $17.00 to $18.00.
In the report, Keefe, Bruyette & Woods noted, “We are updating our forecasts for WD following 4Q13 earnings and the recently announced share repurchase. We are raising our EPS estimates to reflect the share repurchase and raise our target to $18 driven by the higher expected earnings. We are reducing our rating to Market Perform based on valuation.”
Walker & Dunlop closed on Tuesday at $16.88.
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