Walker & Dunlop initiated with an Overweight at Stephens

Stephens initiated coverage of Walker & Dunlop with an Overweight rating and $69 price target Across real estate finance, the firm recommends companies with the lowest cyclicality and potential to unlock multiple expansion by generating consistent earnings growth across cycles, the analyst tells investors. In this context, the firm sees Walker & Dunlop’s SAM segment growth creating a balanced business-model. The current discount is “an attractive entry point for a high-quality company,” the analyst added.