Barclays Initiates Coverage On Rocket Companies with Underweight Rating, Announces Price Target of $6
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Mark Devries has initiated coverage on Rocket Companies (NYSE:RKT) with an Underweight rating and set a price target of $6.
November 15, 2023 | 9:22 am
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Barclays analyst Mark Devries has initiated coverage on Rocket Companies with an Underweight rating and a price target of $6, which may influence the stock's performance negatively in the short term.
The initiation of coverage by a major financial institution like Barclays with an Underweight rating suggests a bearish outlook on the stock. The price target of $6 also implies a potential downside if the stock is currently trading above that level. This could lead to a negative perception among investors and a possible decrease in the stock price in the short term.
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