RBC Capital Downgrades Rocket Cos Inc. (RKT) to Sector Perform
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RBC Capital analyst Daniel Perlin downgraded Rocket Cos Inc. (NYSE: RKT) from Outperform to Sector Perform with a price target of $30.00.
The analyst commented, "Following a strong quarter late last week and abnormal volatility in the shares today (RKT was up ~71% today and 109% since reporting last week), which has surpassed our Street-high target price of $30 per share, we are downgrading the stock to Sector Perform from Outperform, as we believe the risk/reward is now more balanced, if not skewed to the downside. "
Shares of Rocket Cos Inc. closed at $24.30 yesterday.
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