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Guild Mortgage upgraded to Neutral from Underweight at JPMorgan

JPMorgan upgraded Guild Mortgage (GHLD) to Neutral from Underweight with a price target of $12, down from $12.50. The firm says as the lower rate outlook could lead to substantially higher originations volumes. If the economy falls into a recession, it could cause the Federal Reserve to cute rates, which would spur originations growth, the analyst tells investors in a research note.

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