Rithm Capital price target raised to $12.50 from $11.50 at Piper Sandler

Piper Sandler raised the firm’s price target on Rithm Capital (RITM) to $12.50 from $11.50 and keeps a Neutral rating on the shares. The firm notes Rithm posted a strong operating result in Q4 as higher asset management revenues and servicing fee income drove EAD to 60c versus its 47c estimate and the Street at 44c.