Redwood Trust price target lowered to $7 from $7.75 at Keefe Bruyette

Keefe Bruyette analyst Bose George lowered the firm’s price target on Redwood Trust (RWT) to $7 from $7.75 and keeps an Outperform rating on the shares. The shares should continue to trade at a discount to book value until there is better visibility on when earnings will converge with the dividend, the analyst tells investors in a research note.