BofA lowered the firm’s price target on PennyMac Mortgage (PMT) to $12 from $13 and keeps a Neutral rating on the shares. The firm cites a lower earnings forecast and lower multiple for its lowered target.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PMT: