Rocket Companies jumps after brokerages upgrade rating on stock

Rocket Companies

02/04/2025 14:58

** Mortgage lender Rocket Companies' RKT.N shares jump 9.9% to $13.85 after brokerages upgrade their ratings on the stock

** KBW upgrades RKT to "market perform" from "underperform" following the announcement of $9.4 billion acquisition of home loan service provider Mr Cooper Group COOP.O

** Says COOP acquisition creates a more balanced business model and gives it more confidence in its RKT earnings estimates

** Deutsche Bank upgrades RKT to "buy" from "hold" also on the back of proposed COOP acquisition

** Says deal provides RKT a big step toward its ambitious 2027 market share targets laid out last year

** One of 12 brokerages rate the stock "buy" or higher, 10 "hold" and 1 "sell"; median PT is $14 - data compiled by LSEG

** As of last close, RKT shares up 18.2% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))