Rithm Capital: UBS maintains Buy rating, raises PT to $14 from $13.
UBS has maintained its Buy rating for Rithm Capital Corp. (RITM) while raising its price target to $14 from $13. The investment bank's latest report highlights the company's strategic growth and favorable macroeconomic conditions. Rithm Capital operates in the real estate, credit, and financial services sectors, with segments including Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, Asset Management, and Corporate [1].
The company has been receiving positive analyst ratings, with several firms reaffirming their Buy ratings in recent months. For instance, RBC Capital and Argus Research have maintained their Buy ratings for Rithm Capital [2, 3]. Additionally, JMP Securities recently raised its price target for Rithm Capital to $12.50 from $11 [4].
UBS's latest report emphasizes the company's strong fundamentals and growth prospects. The investment bank's analysts believe that Rithm Capital's diversified business model and robust financial performance position it well for future growth. They also note that the company's recent secondary offering of 30 million shares at a price range of $11.43 to $11.81 reflects investor confidence in the company's future prospects [5].
Despite the positive analyst ratings and UBS's price target increase, Rithm Capital's stock price has been relatively stable, with a 52-week range of $10.64 to $13.30. The company's recent earnings reports have shown mixed results, with Q2 adjusted EPS of 47 cents, slightly above the consensus of 42 cents [6].
Overall, UBS's latest report on Rithm Capital provides a positive outlook for the company's future performance. The investment bank's analysts believe that the company's strategic growth and favorable macroeconomic conditions will continue to drive its stock price higher.
References:
[1] https://www.cnn.com/markets/stocks/RITM
[2] https://www.tipranks.com/analyst-ratings/RBC-Capital-Rithm-Capital
[3] https://www.tipranks.com/analyst-ratings/Argus-Research-Rithm-Capital
[4] https://www.tipranks.com/analyst-ratings/JMP-Securities-Rithm-Capital
[5] https://www.tipranks.com/analyst-ratings/Rithm-Capital-30M-share-Spot-Secondary
[6] https://www.tipranks.com/analyst-ratings/Rithm-Capital-Q2-adjusted-EPS
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