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.
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