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UWM Holdings Jumps 7% After BTIG Slaps Buy Rating On The Stock

Published 05/10/2023, 22:28
Updated 05/10/2023, 23:40
© Reuters.  UWM Holdings Jumps 7% After BTIG Slaps Buy Rating On The Stock

Benzinga - by Adam Eckert, Benzinga Staff Writer.

UWM Holdings Corp (NYSE: UWMC) shares traded higher on Thursday following an upgrade from BTIG.

What To Know: BTIG analyst Eric Hagen upgraded UWM Holdings from a Neutral rating to Buy rating and set a price target of $6.

Earlier this week, Goldman Sachs maintained a Neutral rating on the stock and lowered its price target from $6.50 to $5.50.

Of the 13 analysts that cover UWM Holdings, four of them have positive ratings, six have neutral ratings and three have negative ratings. Current price targets range from $2.50 to $9.50.

Most of the latest analyst updates came after the company reported better-than-expected quarterly results in August. Following the report, Wedbush, Goldman Sachs and Morgan Stanley all raised price targets.

UWM Holdings is not due to report earnings again until early November. A date has not yet been confirmed by the company. According to estimates from Benzinga Pro, third-quarter earnings expectations are set at 5 cents per share and analysts are anticipating revenue of $471.45 million.

Check Out Thursday's Other Analyst Changes Here.

UWM Price Action: UWM Holdings shares closed Thursday up 7.92% at $5.04, per Benzinga Pro.

Photo: 3844328 from Pixabay.

Latest Ratings for UWMC

DateFirmActionFromTo
Mar 2022BarclaysMaintainsEqual-Weight
Feb 2022UBSDowngradesBuyNeutral
Jan 2022BarclaysDowngradesOverweightEqual-Weight
View More Analyst Ratings for UWMC

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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