Rithm Capital price target raised to $16 from $13 at BTIG

BTIG raised the firm’s price target on Rithm Capital (RITM) to $16 from $13 and keeps a Buy rating on the shares following the Q1 report. The firm believes the stock’s more limited downside over the past month compared to most other asset managers and mortgage originators reinforces the “more contained” interest rate risk it sees for Rithm’s four business units. The company also has stronger upside and scale benefits from potential acquisitions with valuations having pulled back, the analyst tells investors in a research note.