Piper Jaffray Starts Black Knight Financial Services (BKFS) at Overweight

Piper Jaffray initiates coverage on Black Knight Financial Services (NYSE: BKFS) with a Overweight rating and a price target of $33.00.

Analyst Jason S. Deleeuw commented, "We have an OW rating on BKFS and $33 one-year price target. BKFS provides the leading mortgage servicing technology platform (57% market share; hosted solution) in addition to outsourced mortgage origination technology and data and analytics. We believe there is high visibility of sustainable revenue/earnings growth that will drive attractive compound returns in a low volatility manner for investors over the long-term. Our $33 price target is based on 14.5x our ’16E EV/EBITDA. We believe Bank of America (BAC) coming back to the MSP platform is a key potential catalyst that we estimate could drive ~3%/4% upside to our ’16 revenue/EBITDA estimates and add nearly $1 to our price target."

For an analyst ratings summary and ratings history on Black Knight Financial Services click here. For more ratings news on Black Knight Financial Services click here.

Shares of Black Knight Financial Services closed at $30.66 yesterday.

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