UPDATE: Mr. Cooper Group Inc. (COOP) PT Raised to $43 at Credit Suisse, as Title365 Provides Cash for Share Repurchase
- S&P 500, Dow rise on boost from bank earnings
- Coinbase (COIN) Soars 52% in Public Debut
- JPMorgan (JPM) Reports a Q1 Beat on Revenue and Profit Fueled by Release of $5.2 Billion Reserved for Bad Loans; Shares Slightly Down
- Bernie Madoff, disgraced Ponzi schemer, dies at 82
- Goldman Sachs (GS) Q1 EPS Nearly Doubles Wall Street's View as Investment Banking Excels Amid SPAC and IPO Frenzy
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - March 16, 2021 8:57 AM EDT)
Credit Suisse analyst Douglas Harter raised the price target on Mr. Cooper Group Inc. (NASDAQ: COOP) to $43.00 (from $40.00) after the company announced the sale of Title365, its title business which is part of Xome, for $450 million of cash and a 9.9% retained interest in the business.
The analyst reiterated an Outperform rating, stating "After closing costs COOP expects to net $400 million of cash from the transaction. The deal is expected to close in the second quarter, which matches up relatively well with COOP’s increased ability to repurchase stock in August (3-year anniversary of WMIH acquisition)".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- New Residential Investment (NRZ) to Acquire Caliber Home Loans for $1.68 Billion
- TMX Group Ltd (X:CN) (TMXXF) PT Raised to Cdn$152 at Scotiabank
- Tenaris S.A. (TEN:IM) (TS) PT Raised to EUR9 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesCredit Suisse, Stock Buyback, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!