KBW Reiterates Underperform on Rocket Cos Inc. (RKT) After a 'Transformative All-Stock Acquisition'

Keefe, Bruyette & Woods analyst Bose George reiterated an Underperform rating and $12.00 price target on Rocket Cos Inc. (NYSE: RKT).

The analyst commented: "Announces Transformative All-Stock Acquisition of COOP for $9.4bn; RKT announced it is acquiring COOP for $9.4bn in equity value ($143.33/sh or 35% premium) in an all-stock transaction. The transaction is expected to generate $500m in combined pre-tax revenue and cost synergies annually by 2027. While shares could be weak, we view the transaction positively given the transformational impact on the company's mortgage servicing business, making RKT the #1 servicer (by far) with a ~17% market share."

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 $12.07 yesterday.

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