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Fly News Breaks for November 9, 2018
ORM, RC
Nov 9, 2018 | 07:44 EDT
Ladenburg Thalmann analyst Christopher Nolan upgraded Ready Capital (RC) to Buy from Neutral with a $17 price target. The analyst says his Buy rating reflects the recent share price weakness, the company's stronger than expected Q3 earnings and upside potential from the newly announced acquisition of Owens Reality Mortgage (ORM). He expects the deal to improve Ready Capital's leverage ratios, which will more than offset near-term earnings dilution.
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