Market Overview

UPDATE: Deutsche Bank Lowers PT on Altisource Residential on EPS Growth Drivers

Share:
Related RESI
Benzinga's Top Downgrades
Benzinga's Top Initiations

In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Altisource Residential Corp. (NYSE: RESI), but lowered the price target from $37.00 to $36.00.

In the report, Deutsche Bank noted, “Expect increased loan resolutions and new acquisitions to drive EPS growth. RESI posted strong 1Q results, as taxable earnings of 48c beat our estimate by 18c and 822 loans were resolved during the quarter. We are increasing our '14 and '15 taxable earnings and dividend estimates as we expect the number of loan resolutions to continue to increase. We are trimming our target to $36/sh from $37/sh given an adjustment to our future acquisition and leverage assumptions. Given our portfolio return expectations and the attractive valuation, we are reiterating our Buy rating.”

Altisource Residential Corp. closed on Tuesday at $27.97.

Latest Ratings for RESI

DateFirmActionFromTo
Mar 2016JMP SecuritiesDowngradesOutperformMarket Perform
Feb 2016NomuraInitiates Coverage onNeutral
Aug 2015Piper JaffrayMaintainsOverweight

View More Analyst Ratings for RESI
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Greg PooleAnalyst Color Price Target Analyst Ratings

 

Related Articles (RESI)

View Comments and Join the Discussion!