Wells Fargo analyst Donald Fandetti lowered the firm’s price target on Rocket Companies (RKT) to $17 from $19 and keeps an Equal Weight rating on the shares. With war risk receding, the next stock battle is AI job fears, where investors seem mostly bearish, the firm argues. Wells notes credit & card spend are tracking well, and stimulus will outweigh gas. The firm expects banks to reiterate a constructive tone on the consumer next week.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RKT:
- Rocket Companies price target lowered to $16.50 from $24 at JPMorgan
- Buy Rating Reaffirmed on Rocket: Macro Rebound, Marketing Investments, and AI-Driven Operating Leverage Support $19 Price Target
- Moderately bullish activity in Rocket Companies with shares up 1.1%
- Rocket Companies upgraded to Overweight from Equal Weight at Barclays
- Mixed options sentiment in Rocket Companies with shares up 4.71%