Raymond James Maintains Strong Buy on Redwood Trust, Lowers Price Target to $8.5
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Stephen Laws has maintained a Strong Buy rating on Redwood Trust (NYSE:RWT) but has reduced the price target from $9 to $8.5.
January 19, 2024 | 9:32 am
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NEUTRAL IMPACT
Raymond James reaffirmed a Strong Buy rating on Redwood Trust, but lowered the price target to $8.5, indicating a potential upside but with caution.
The maintenance of a Strong Buy rating suggests confidence in Redwood Trust's fundamentals, while the price target reduction reflects a more conservative valuation, possibly due to market conditions or company-specific factors. This mixed signal could lead to a neutral short-term impact on the stock price as the market digests both the endorsement and the caution implied by the price target cut.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100