Raymond James Maintains Strong Buy Rating for Redwood Trust: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Raymond James has reaffirmed its Strong Buy rating on Redwood Trust (NYSE:RWT) but reduced its price target from $10.00 to $9.00. Despite the lower price target, Redwood Trust's shares have risen 2.04% in the last 24 hours to $6.99. The new price target suggests a potential upside of 28.77% from the current share price. Redwood Trust is a real estate investment trust specializing in housing credit across three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio.
November 28, 2023 | 5:00 pm
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Raymond James maintains a Strong Buy rating on Redwood Trust but lowers the price target from $10.00 to $9.00, indicating a potential 28.77% increase from the current price.
The reaffirmation of a Strong Buy rating by Raymond James is a positive signal for investors, indicating analyst confidence in Redwood Trust's fundamentals and future performance. However, the reduction in the price target may slightly temper expectations. The stock's recent price increase suggests that the market is reacting positively to the analyst's rating, which could lead to continued short-term upward momentum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100