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Post# of 113997
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researcher59

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Re: OBrien post# 74372

Thursday, 07/16/2020 12:38:41 PM

Thursday, July 16, 2020 12:38:41 PM

Post# of 113997
NRZ +.25 to 7.55 after an analyst upgrade -

Earnings are due out on 7/22 -

fly -

Piper Sandler analyst Kevin Barker upgraded New Residential Investment to Overweight from Neutral with a price target of $9.50, up from $8.50. New Residential is trading at "fairly wide discount" to peers on price to tangible book value and a "very wide discount" to its historical book value multiple, Barker tells investors in a research note. This multiple should contract as more clarity around the company's earnings potential is given when it reports earnings on July 22, contends the analyst. In addition, Barker believes spread tightening across the credit markets combined with limited write-downs should lead to a slightly improved tangible book value in Q2 for New Residential.
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