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Fly News Breaks for October 5, 2016
IMH
Oct 5, 2016 | 07:11 EDT
JMP Securities analyst Trevor Cranston upgraded Impac Mortgage Holdings to Outperform from Market Perform with a $20 price target. The analyst cites valuation and an improved earnings outlook after the recent follow-on offering for the rating change. Following the capital raise, IMPAC should have the ability to retain close to 100% of newly-originated servicing for the foreseeable future, Cranston tells investors in a research note.
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