Deutsche Bank Reiterates a 'Buy' on Redwood Trust (RWT); Growth in Both Businesses Leads To Bump in Numbers

Deutsche Bank reiterates a 'Buy' on Redwood Trust (NYSE: RWT) price target of $16.00 (from $14.50).

Analyst, Stephen Laws, said, "Redwood reported strong 2Q results, and we believe the company is well-positioned for growth. In the residential business, we believe Redwood is benefitting from thinning competition from banks and expect continued strong mortgage banking operations. We expect new investments and the use of new financing facilities to drive higher ROEs in the commercial business."

FY12 EPS estimate raised from $0.79 to $0.89 and FY13 from $0.92 to $1.00.

For an analyst ratings summary and ratings history on Redwood Trust click here. For more ratings news on Redwood Trust click here.

Shares of Redwood Trust closed at $13.36 yesterday.

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