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UPDATE: Jefferies Initiates PennyMac Financial Services at Hold on Fair Valuation

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In a report published Friday, Jefferies analyst Daniel Furtado initiated coverage on PennyMac Financial Services (NYSE: PFSI) with a Hold rating and $23.00 price target.

In the report, Jefferies noted, “We are initiating on shares of PFSI, a non-bank servicer/originator and investment manager, with a Hold rating. While we expect PFSI to continue to take market share, we see near-term headwinds as refinance volumes slow and margins compress pressuring earnings and valuation in the near term. Our $23 PT is 8x our FY'14 EPS estimate of $2.86.”

PennyMac Financial Services closed on Thursday at $21.03.

Latest Ratings for PFSI

DateFirmActionFromTo
May 2020JMP SecuritiesMaintainsMarket Outperform
Apr 2020Credit SuisseUpgradesNeutralOutperform
Mar 2020JMP SecuritiesUpgradesMarket PerformMarket Outperform

View More Analyst Ratings for PFSI
View the Latest Analyst Ratings

 

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Posted-In: Daniel Furtado JefferiesAnalyst Color Initiation Analyst Ratings

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