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Fly News Breaks for February 8, 2017
PFSI
Feb 8, 2017 | 05:33 EDT
JMP Securities analyst Trevor Cranston downgraded PennyMac Financial to Market Perform saying shares have surpassed his $18 price target and trading at a 52-week high despite headwinds from a projected 20% smaller mortgage origination market in 2017 and tighter gain on sale margins due to increased competition.
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