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Fly News Breaks for May 16, 2017
OCN, NRZ
May 16, 2017 | 06:27 EDT
Piper Jaffray analyst Kevin Barker raised his price target for New Residential Investment (NRZ) after hosting meetings with the company's CEO Michael Nierenberg. The analyst has increased confidence that the Ocwen (OCN) mortgage servicing rights deal will be "meaningfully accretive" to New Residential and provide support for a higher dividend in the future. Barker reiterates an Overweight rating on the shares.
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