JMP Securities Starts Mr. Cooper Group Inc. (COOP) at Market Outperform

JMP Securities analyst Mikhail Goberman initiates coverage on Mr. Cooper Group Inc. (NASDAQ: COOP) with a Market Outperform rating and a price target of $115.00.

The analyst comments: "We are initiating coverage on Mr. Cooper Group Inc. (COOP) at a Market Outperform rating, with an initial $115 price target, equal to 8.5x 2025E operating EPS, with potential price upside of ~25%. Mr. Cooper shares are currently trading at 6.8x 2025E operating EPS and 1.32x current tangible book value, compared to median mortgage operating company (MOC) valuations of 9.9x and 1.32x, respectively. Our price target offers a 25% potential return if it is achieved. Our current estimates for 2024 and 2025 operating EPS are $10.40 and $13.50, respectively, as compared to current Street consensus of $10.29 and $13.22, while our operating EPS estimate for the soon-to-be-reported 4Q24 is $2.75 versus the Street estimate of $2.65."

For an analyst ratings summary and ratings history on Mr. Cooper Group Inc. click here. For more ratings news on Mr. Cooper Group Inc. click here.

Shares of Mr. Cooper Group Inc. closed at $92.25 yesterday.

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