LoanDepot price target lowered to $1.25 from $1.50 at BofA

BofA lowered the firm’s price target on LoanDepot (LDI) to $1.25 from $1.50 and keeps an Underperform rating on the shares. The firm remains cautious on the mortgage sector citing high rates and elevated competition. This should continue to weigh on LoanDepot’s production volume and margin, the analyst tells investors in a research note.