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UPDATE: Jefferies Initiates Ocwen Financial at Buy on Best Market Position

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In a report published Friday, Jefferies analyst Daniel Furtado initiated coverage on Ocwen Financial (NYSE: OCN) with a Buy rating and $50.00 price target.

In the report, Jefferies noted, “We are initiating on OCN with a Buy rating and a $50PT. OCN is a top specialty servicer with a 70% cost advantage versus peers, giving it scale to acquire additional servicing UPB as banks continue to exit the business. Further, OCN recently boarded roughly $190B in GSE servicing, with income from HARP refi's expected rise in the coming months, even as margins are likely to come in.”

Ocwen Financial closed on Thursday at $42.47.

Latest Ratings for OCN

DateFirmActionFromTo
Nov 2018BTIG ResearchInitiates Coverage OnNeutral
Apr 2017Compass PointUpgradesNeutralBuy
Jan 2017Compass PointDowngradesBuyNeutral

View More Analyst Ratings for OCN
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Posted-In: Daniel Furtado JefferiesAnalyst Color Initiation Analyst Ratings

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