BUZZ-Rocket Companies inches up after BofA upgrades to 'neutral'

reuters11-16 01:15
BUZZ-<a href="https://laohu8.com/S/RKT">Rocket Companies</a> inches up after BofA upgrades to 'neutral'

** Shares of mortgage lender Rocket Companies RKT.N rise as much as 1.9%, last up 0.4% at $13.71 after BofA Global Research upgrades stock to "neutral" from "underperform"

** Brokerage says RKT's valuation is now more palatable and much more balanced, adding that a more favorable rate environment could cause mortgage originations to tick up

** Higher-for-longer rates would delay the uptick in RKT earnings but still expect the company to remain profitable — BofA

** Brokerage says the 2025 mortgage market size remains a key debate, although even with a smaller-than-expected market, it expects RKT to be able to take share as the company leans into marketing

** Eleven of 14 brokerages rate the stock "hold" and three "sell"; median PT is $16 — per data compiled by LSEG

** As of last close, RKT shares down 5.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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