UPDATE: Goldman Sachs Starts Rocket Cos Inc. (RKT) at Neutral

(updating comment)

Goldman Sachs analyst Ryan Nash initiates coverage on Rocket Cos Inc. (NYSE: RKT) with a Neutral rating and a price target of $27.00.

The analyst comments "In 1H20 RKT took over as the industry leader in mortgage originations with 8.1% market share as it benefited from secular trends, including a move away from banks and a shift towards homebuyers engaging digitally, amongst other things. In addition, we see its share increasing as purchase becomes a bigger part of the story and it continues to build out the partner channel. However, with shares up over 50% since its IPO and now trading at >18x our 2022 estimate, we view the risk reward as balanced at current levels."

For an analyst ratings summary and ratings history on Rocket Cos Inc. click here. For more ratings news on Rocket Cos Inc. click here.

Shares of Rocket Cos Inc. closed at $28.42 yesterday.

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