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UPDATE: Oppenheimer Initiates Coverage on PHH Corporation on Valuation

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In a report published Tuesday, Oppenheimer analyst Ben Chittenden initiated coverage on PHH Corporation (NYSE: PHH) with a Perform rating.

In the report, Oppenheimer noted, “We are initiating PHH at Perform. While there are many, many positives going for PHH, valuation starts us on the sidelines. Each of PHH's three main business lines faces transitory issues that over the medium term should give way to a nice earnings ramp. In addition, PHH stands to benefit from the same secular tailwinds we discuss in our industry report, A Changing Mortgage Market, also published today. In this report, we discuss PHH's background, its business segments, our model, some of the key differentiators and our investment thesis.”

PHH Corporation closed on Monday at $21.10.

Latest Ratings for PHH

DateFirmActionFromTo
Jun 2017DowngradesOutperformNeutral
Mar 2017UpgradesNeutralOutperform
Oct 2016Initiates Coverage OnNeutral

View More Analyst Ratings for PHH
View the Latest Analyst Ratings

Posted-In: Ben Chittenden OppenheimerAnalyst Color Initiation Analyst Ratings

 

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