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Rocket Companies upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded Rocket Companies (RKT) to Equal Weight from Underweight with a price target of $14, up from $10. The firm cites potential upside from the announced acquisition of Mr. Cooper (COOP) for the upgrade. However, given the “evolving” macro environment, the analyst is cautious on mortgage credit, saying it adds an incremental layer of risk to credit normalization for the mortgage insurers.

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