UPDATE: Deutsche Bank Raises PT on Home Loan Servicing Post Acquisition Completion

Deutsche Bank maintained Home Loan Servicing HLSS with a Buy rating and raised the price target from $24.00 to $25.75. Deutsche Bank analyst Stephen Laws commented, "On March 13, HLSS completed its acquisition of MSRs and servicing advances related to $15.9b of unpaid principal balance from Ocwen. The price was roughly $814 million, which consisted of $713 million in servicing advances and $101 million in Rights to MSRs. The transaction was financed with $654 million of borrowings under the company's financing facility and the remaining $160 million was financed with cash." Home Loan Servicing closed at $8.44 on Tuesday.