Rithm Capital Corp. (RITM) PT Raised to $13 at RBC Capital

RBC Capital analyst Kenneth Lee raised the price target on Rithm Capital Corp. (NYSE: RITM) to $13.00 (from $12.00) while maintaining a Outperform rating.

The analyst comments "We revise our estimates following 1Q. We look forward to RITM’s investor day on May 14, where we expect to gain more insight into the company’s various alternative asset management businesses and their growth opportunities. We continue to favor RITM as it pivots toward a fee-based, capital-light business model by being an alternative investment manager. We maintain our Outperform rating and raise our price target to $13 from $12."

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