Credit Suisse Lowers Estimates On Capital Raise For Nationstar Mortgage

In a report published Wednesday, Credit Suisse analyst Douglas Harter reiterated an Outperform rating and $33.00 price target on

. In the report, Credit Suisse noted, "Nationstar's ability to acquire and close MSR transactions increases our confidence that the company will be able to drive higher servicing balances and profitability. While we are lowering our estimates as a result of this offering, we continue to see upside for NSM shares as the higher earnings power from the servicing portfolio growth is realized." Nationstar Mortgage closed on Tuesday at $31.14.