Keefe Bruyette upgraded Fidelity National (FNF) to Outperform from Market Perform with a $69 price target The firm cites valuation for the upgrade following the recent selloff in the shares. Title insurers have fallen more meaningfully since April 2 versus the S&P 500, down 10%, the analyst tells investors in a research note. Since a weakening economy usually results in lower rates and is positive for title insurers, Keefe assume the declines are due to concerns about commercial activity, the analyst tells investors in a research note. The firm thinks title insurers are well positioned to benefit if lower interest rates in 2025 provide incremental support to purchase volumes.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FNF:
- Fidelity National management to meet with Stephens
- Fidelity National price target raised to $75 from $68 at Stephens
- Fidelity National price target raised to $65 from $63 at Keefe Bruyette
- Fidelity National price target raised to $67 from $61 at Barclays
- Fidelity National Financial Reports Strong 2024 Performance