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UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Redwood Trust

Related RWT
Nomura Upgrades Redwood Trust To Buy, Cites Changing Times Over Last 6 Months
Redwood Trust Gains 2%, CEO Bought 20,000 Shares

In a report published Monday, Deutsche Bank reiterated its Buy rating on Redwood Trust (NYSE: RWT), and slightly raised its price target from $16.00 to $17.00.

Deutsche Bank noted, “Core business continues to improve; Buy - RWT's 3Q results benefitted from strong mortgage banking during the quarter and economic BVPS increased to $13.62. While mortgage banking can be lumpy, RWT has a large pipeline of loans and we expect future results to benefit from strong mortgage banking activities. Additionally, RWT continues to see attractive investment opportunities in CRE debt and experience solid performance in its resi MBS portfolio. We are reiterating our Buy rating and increasing our target to $17 per share.”

Redwood Trust closed on Friday at $15.46.

Latest Ratings for RWT

Jul 2016Keefe Bruyette & WoodsDowngradesOutperformMarket Perform
May 2016NomuraUpgradesNeutralBuy
May 2016Deutsche BankMaintainsBuy

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


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