Wells Fargo Starts Home Loan Servicing (HLSS) at Outperform; Strong, Well Seasoned Management Team

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Wells Fargo initiates coverage on Home Loan Servicing (NASDAQ: HLSS) with a Outperform. PT range $16-18.

Analyst, Joel Houck, said, "Our Outperform rating is based on (1) HLSS' strong and well seasoned management team, in our view (2) Stability of the dividend currently yielding 8.6%, and (3) Strong relationship and potential UPB pipeline with Ocwen. We are establishing estimates of $1.00 and $1.22 for 2012 and 2013 respectively."

For an analyst ratings summary and ratings history on Home Loan Servicing click here. For more ratings news on Home Loan Servicing click here.

Shares of Home Loan Servicing closed at $13.94 yesterday, with a 52 week range of $12.80-$14.00.

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