Citizens JMP downgraded Mr. Cooper (COOP) to Market Perform from Outperform without a price target after the company agreed to be acquired by Rocket Companies (RKT). The firm believes the shares are now reasonably fairly valued. It sees limited price appreciation potential embedded in the stock after the announcement of the acquisition. The market is currently pricing in some level of skepticism regarding the deal’s eventual closing, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COOP:
- BTIG sees no meaningful regulatory pushback from Mr. Cooper deal
- Rocket acquires Mr. Cooper, Musk’s xAI acquires X: Morning Buzz
- Morning Movers: Mr. Cooper surges after Rocket Companies takeover deal
- M&A News: Rocket Companies (NASDAQ:RKT) Buys Mr Cooper Group for $9B
- Rocket Companies to Acquire Mr Cooper Group
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue