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UPDATE: Jefferies Initiates Nationstar Mortgage Holdings at Hold on Near-Term Risks


In a report published Friday, Jefferies analyst Daniel Furtado initiated coverage on Nationstar Mortgage Holdings (NYSE: NSM) with a Hold rating and $40.00 price target.

In the report, Jefferies noted, “While we are positive on the NSM platform and long-term strategy, we see risks near term as HARP volumes dominate the profitability of the company. As HARP pay-ups decline as rates rise, we see near-term risks to GoS margins. With a majority of profits from originations, NSM's earnings are driven by rate-sensitive volumes/margins, warranting a discount to comps. Our PT of $40 is 6x our FY'14 EPS estimate of $6.67.”

Nationstar Mortgage Holdings closed on Thursday at $38.16.

Latest Ratings for NSM

Jul 2018Keefe Bruyette & WoodsUpgradesMarket PerformOutperform
Jul 2018BarclaysMaintainsUnderweightUnderweight
Mar 2018BarclaysMaintainsUnderweightUnderweight

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View the Latest Analyst Ratings


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Posted-In: Daniel Furtado JefferiesAnalyst Color Initiation Analyst Ratings

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