Morgan Stanley resumed coverage of Rocket Companies (RKT) with an Equal Weight rating and $16 price target The firm sees a less compelling risk/reward following the stock’s 50% rally. Morgan Stanley views the Redfin deal as a strong strategic fit, but believes most of the near-term upside is already reflected into today’s valuation.
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Read More on RKT:
- Citron’s Left remains long Rocket Companies, cites pent up refi demand
- Rocket Companies Completes Acquisition of Redfin
- Mixed options sentiment in Rocket Companies with shares down 1.57%
- Moderately bullish activity in Rocket Companies with shares up 1.53%
- Rocket Companies price target raised to $16 from $14 at UBS