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Fly News Breaks for August 31, 2015
SGM
Aug 31, 2015 | 11:39 EDT
After Stonegate Mortgage announced the resignation of CEO Jim Cutillo and named Richard Kraemer as interim CEO and hired James Smith to act as COO, FBR analyst Paul Miller said the management changes leave the company with two possible courses of action: to either hire a replacement CEO quickly or to pursue acquirers. The firm, which sees the management changes as a possible catalyst for shares, upgraded Stonegate to Outperform and kept a $10 price target on the stock.
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