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Fly News Breaks for March 8, 2017
NSM
Mar 8, 2017 | 05:44 EDT
Piper Jaffray analyst Kevin Barker downgraded Nationstar Mortgage to Underweight saying the stock is unlikely to trade above tangible book value in the near-term amid earnings pressure from an elevated expense base combined with a drop in origination revenue. The analyst believes consensus estimates are high and cut his price target for the shares to $15 from $16.
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