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Fly News Breaks for August 27, 2015
RESI
Aug 27, 2015 | 08:18 EDT
JMP Securities cut its price target on Altisource after the company said it would change its focus to SFR properties over NPls. The firm significantly lowered its estimates as a result of the change and says it expects the company's dividend "to be challenged in the near-term." JMP now values the stock at what it says is a 15% discount to its pro forma liquidation value. However, it keeps an Outperform rating on the shares.
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