JonesResearch analyst Matthew Erdner upgraded Rithm Capital (RITM) to Buy from Hold with an $11 price target after the company reported earnings available for distribution that beat the consensus estimate and reported that book value per share increased 1.3% quarter-over-quarter. In addition, the company has reached an amended merger agreement with Sculptor Capital Management (SCU) for $12.70 per share, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on RITM:
- Rithm Capital acquiring Sculptor Capital for $12.70 per share
- Rithm Capital reports Q3 adjusted EPS 58c, consensus 39c
- Rithm Capital says ‘resolute’ in ‘commitment’ to pending transaction
- Founding Partners of Sculptor Capital sue over proposed merger with Rithm
- Rithm Capital to acquire Sculptor Capital for $12.00 per share