Wedbush Starts New Residential Investment (NRZ) at Outperform
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Wedbush initiates coverage on New Residential Investment (NYSE: NRZ) with a Outperform rating and a price target of $17.00.
Analyst Jason Weaver commented, "Initiating on NRZ at OUTPERFORM as a high total return opportunity with balanced risks due to unique mortgage + servicing portfolio structure and option-like upside possibility from call rights strategy and opportunistic investments."
Shares of New Residential Investment closed at $13.48 yesterday.
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