Market Overview

UPDATE: Credit Suisse Reinstates Coverage On New Residential Investment As Advances Are Performing Better Than Expected

Related NRZ
New Residential Investment (NRZ) Sees Hammer Chart Pattern: Time to Buy? - Tale of the Tape
Market Wrap For December 18: Markets Surge Following the Fed's Taper Announcement

In a report published Friday, Credit Suisse analyst Douglas Harter reinstated coverage on New Residential Investment Corp. (NYSE: NRZ) with an Outperform rating and $7.00 price target.

In the report, Credit Suisse noted, “We are reinstating coverage of New Residential with an Outperform rating and a $7 target price. The current mix of business allows NRZ to generate an attractive return that is not sensitive to interest rates. We also see enough breadth to the NRZ opportunity set that we have confidence in the sustainability of returns. The combination of these factors give us confidence in NRZ's ability to deliver attractive risk-adjusted returns.”

New Residential Investment closed on Thursday at $6.20.

Latest Ratings for NRZ

DateFirmActionFromTo
May 2014Credit SuisseReinstatesOutperform
Feb 2014CitigroupInitiates Coverage onBuy
Oct 2013Sterne AgeeInitiates Coverage onBuy

View More Analyst Ratings for NRZ
View the Latest Analyst Ratings

Posted-In: Credit Suisse Douglas HarterAnalyst Color Initiation Analyst Ratings

 

Related Articles (NRZ)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters