Finance of America slides after UBS downgrades stock

Finance of America Companies

20/11/2024 17:30

** Shares of retirement offerings platform Finance of
America  FOA.N  slide as much as 22.7%, last down 19.8% at
$18.91
    ** UBS downgrades FOA to "neutral" from "buy," citing the
stock's strong rally in November
    ** Brokerage says with the positive news from Q3 earnings
and the debt exchange deal already announced, it does not see a
catalyst for the shares to rise meaningfully from current levels
    ** Meanwhile, UBS raises PT to $24 from $14, a 2% upside to
stock's last close 
    ** One brokerage rates the stock "buy" and one "hold";
median PT is $18.50 — data compiled by LSEG
    ** As of last close, FOA shares have more than doubled YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))