UWM Holdings upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette analyst Bose George upgraded UWM Holdings (UWMC) to Outperform from Market Perform with a price target of $7.50, up from $6.50. The stock’s 5% decline since the company reported Q4 earnings is overdone, the analyst tells investors in a research note. The firm believes UWM is positioned to be one of the main beneficiaries of a normalizing mortgage market given its dominant position in the purchase market and increasing share in the refinance market. Keefe views the shares as attractive relative to peer Rocket Companies (RKT).