JMP Securities Starts Home Point Capital Inc. (HMPT) at Market Outperform
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JMP Securities analyst Steven DeLaney initiates coverage on Home Point Capital Inc. (NASDAQ: HMPT) with a Market Outperform rating and a price target of $16.00.
The analyst comments "Our initial PT implies 39% potential upside from the current price and represents a P/E multiple of 4.2x our 2021 EPS estimate of $3.80. HMPT is a national residential mortgage lending and servicing business headquartered in Ann Arbor, MI and is focused on the third-party or wholesale loan origination channel. While a relatively young company founded in 2014 and operational in 2015, Home Point boasts a very deep executive management team with many years of mortgage industry experience, headed by wholesale-lending pioneer Willie Newman as CEO and recently retired Fannie Mae Single-family Mortgage head Andrew Bon Salle as chairperson of the board."
Shares of Home Point Capital Inc. closed at $11.54 yesterday.
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