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

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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
Oct 2014JMP SecuritiesMaintainsMarket Outperform
Sep 2014JP MorganInitiates Coverage onNeutral
Jul 2014Keefe Bruyette & WoodsUpgradesMarket PerformOutperform

View More Analyst Ratings for RESI
View the Latest Analyst Ratings

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

 

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