UPDATE: Mr. Cooper Group Inc. (COOP) PT Raised to $43 at Credit Suisse, as Title365 Provides Cash for Share Repurchase
Get Alerts COOP Hot Sheet
Rating Summary:
8 Buy, 2 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 1
Join SI Premium – FREE
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
- Jefferies Upgrades Husqvarna AB (HUSQB:SS) to Buy
- Mr. Cooper Group Inc. (COOP) PT Raised to $94 at Barclays
- Essity AB (ESSITYB:SS) (ESSYY) PT Raised to SEK243 at Barclays
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT ChangeRelated Entities
Credit Suisse, Stock Buyback, Definitive AgreementSign 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!