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COOP stock rose in morning trade on February 14, 2022, after the company received positive analyst actions.
Mr. Cooper price target raised to $60 from $50 at Wedbush
Wedbush analyst Henry Coffey raised the firm’s price target on Mr. Cooper to $60 from $50 and keeps an Outperform rating on the shares. The analyst notes Mr. Cooper reported a “strong” Q4 that was above both his and consensus estimates, and the announcement of the Sagent deal should open up some new and exciting doors for the company. Coffey anticipates that Mr. Coop will be able to continue to show strong tangible book value growth over time, especially given the impact that higher rates have on servicing portfolio valuations.
Mr. Cooper price target raised to $59 from $52 at Credit Suisse
Credit Suisse analyst Douglas Harter raised the firm’s price target on Mr. Cooper to $59 from $52 and keeps an Outperform rating on the shares. The analyst notes Mr. Cooper delivered “strong” results in the fourth quarter, and is poised to grow tangible book value by 16% in the first quarter given the gain from the Sagent deal, the positive mark on the MSR portfolio given higher rates, and the positive operating earnings generated by the origination segment.
Mr. Cooper price target raised to $71 from $60 at Piper Sandler
Piper Sandler analyst Kevin Barker raised the firm’s price target on Mr. Cooper to $71 from $60 and reiterates an Overweight rating on the shares following the Q4 results. The analyst says he has greater conviction in calling Mr. Cooper his top pick for 2022. The company is very well positioned for the current rate environment due to its large servicing operations, significant excess capital, and the potential for growing fee-based revenue from their technology platforms, Barker tells investors in a research note. The risk/reward of owning this stock today is better than a couple of days ago, despite a 20% jump post earnings, contends Barker.
📉 COOP Stock Technical Analysis
The long-term trend is still neutral, but the short-term trend is positive, so the stock is getting more and more appreciated by traders and investors. COOP is part of the Thrifts & Mortgage Finance industry. There are 74 other stocks in this industry. COOP outperforms 98% of them. A new 52 week high is currently being made by COOP, which is a very good signal! Especially since the S&P500 is only trading in the middle part of its 52-week range, so COOP is leading the market.
There is a support zone ranging from 49.21 to 49.23. This zone is formed by a combination of multiple trend lines in multiple time frames. There is also a support zone ranging from 41.29 to 41.43. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Although COOP has an excellent technical rating, it does not offer a high-quality setup at the moment. COOP stock has a Setup Rating of 2 out of 10. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when COOP stock consolidates and has a Setup Rating of 8 or higher.
