UPDATE: Jefferies Upgrades Nationstar Mortgage on Upcoming Catalysts

In a report published Wednesday, Jefferies analyst Daniel Furtado upgraded the rating on

from Hold to Buy, and raised the price target from $40.00 to $64.00. In the report, Jefferies noted, “We are upgrading NSM to BUY with a $64 price target, which is ~8.5x our FY'15 $7.49 EPS estimate. Upcoming catalysts include: 1) bulk servicing transfers, 2) the impact from higher rates, and, in our opinion, 3) the likely spin-off of SolutionStar, NSM's mortgage services segment.” Nationstar Mortgage Holdings closed on Tuesday at $55.03.