UPDATE: Sterne Agee Upgrades Nationstar Mortgage Holdings to Buy on Servicing Acquisition

Sterne Agee upgraded Nationstar Mortgage Holdings Inc.

from Neutral to Buy and announced a $47.00 price target. Sterne Agee commented, "The primary factor driving shares to our price target is the likelihood that there will be more servicing developments on the horizon. A secondary set of factors will include the company's success at meeting targeted improvements in the operating performance of its servicer, its ability to integrate acquired servicing, and the growth of its mortgage company (driven mainly by recapture and loan modification). Approximately $3.00 per share of our $47 price target can be attributed to servicing acquisitions not currently in place." Nationstar Mortgage Holdings closed at $38.83 on Thursday.