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Fly News Breaks for December 8, 2019
STC
Dec 8, 2019 | 19:56 EDT
Keefe Bruyette analyst Bose George downgraded Stewart to Underperform from Market Perform with a $38 price target. The analyst cites valuation for the downgrade. With refinance volumes in the second of 2019 exceeding his earlier expectations, and assuming mortgage spreads hold fairly constant, George says his outlook for refinance volumes into 2020 now looks "less promising." Further, he notes that a number of stocks under his coverage with exposure to mortgage origination volumes have had a solid run this year.
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