What's Going On With Walker & Dunlop Shares Today?
Portfolio Pulse from Lekha Gupta
Walker & Dunlop, Inc. (NYSE:WD) shares fell after Wedbush analyst Jay McCanless downgraded the stock to Neutral from Outperform and lowered the price target to $95 from $130, citing concerns over a higher for longer rate environment impacting transaction volumes. The analyst also reduced EPS estimates for 2024 and 2025 due to lower transaction volume assumptions.
April 11, 2024 | 6:23 pm
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NEGATIVE IMPACT
Walker & Dunlop's stock downgraded by Wedbush to Neutral, price target cut to $95 from $130 due to a challenging rate environment affecting transaction volumes. EPS estimates for 2024 and 2025 were also lowered.
The downgrade by Wedbush reflects a significant change in the analyst's outlook on Walker & Dunlop, primarily due to the anticipated impact of a prolonged high-rate environment on the company's transaction volumes. This negative outlook, coupled with the reduction in EPS estimates for the next two years, suggests a bearish short-term impact on the stock's performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100