Mortgage lender UWM rises after KBW upgrades to 'outperform'

UWM Holdings

03/03/2025 19:12

** Shares of mortgage lender UWM Holdings UWMC.N rise 3.8% to $6.52

** KBW upgrades UWMC shares to "outperform" from "market perform;" raises PT to $7.50 from $6.50, a 19.4% upside to last close

** Brokerage says the stock decline since Q4 earnings is overdone, adding that UWMC shares look attractive compared to peer Rocket Companies RKT.N

** UWMC appears poised to be one of the main beneficiaries of a normalizing mortgage market given its dominant position in the purchase market and increasing share in refinancing market — KBW

** Three of 12 brokerages rate the stock "buy" or higher, seven "hold" and two "sell;" median PT is $7 — LSEG data

** UWMC stock up 12% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))