UPDATE: Sterne Agee Reiterates Buy Rating, Raises PT for Nationstar Mortgage Holdings

In a company report published earlier today, Sterne Agee Group, Inc. reiterated its Buy rating for Nationstar Mortgage Holdings Inc.

and raised its price target from $18.00 to $20.00. Sterne Agee went on to say “1Q12 EPS and levels of cash profitability were above our estimates by a comfortable margins and the high cash gains being generated in the mortgage operation are likely to persist for at least two quarters. The potential gains in servicing UPB and 2013 for the ResCap acquisition should be significant.” Nationstar Mortgage Holdings Inc. closed yesterday at $16.97