Yahoo Finance Jefferies lifts rating of United Wholesale Mortgage to buy
Investing.com -- Jefferies has upgraded its rating of United Wholesale Mortgage Holdings Corp (NYSE:UWMC) to buy from hold and raised its price target to $7, citing market share momentum.
The Michigan-based mortgage lender's pricing strategy has accelerated its market share gains, the Jefferies analysts said, adding that the retention of these increases showcases the value proposition of UWMC's platform.
The Jefferies analysts noted that near-term guidance indicates that gain-on-sale (GOS) margins will converge towards long-term averages. The stickiness of market share gains while improving GOS margins should help the future earnings profile of UWMC, the analysts argued, saying this makes it an "opportune time to establish a position in the stock."
This article was produced with assistance from artificial intelligence.
Related Articles
