In a report released yesterday, Ryan Carr from Jefferies reiterated a Buy rating on loanDepot (LDI – Research Report), with a price target of $30.00. The company’s shares closed last Tuesday at $18.38.
According to TipRanks.com, Carr is a 3-star analyst with an average return of 8.4% and a 42.9% success rate. Carr covers the Financial sector, focusing on stocks such as New Residential Inv, PennyMac Financial, and Rocket Companies.
Currently, the analyst consensus on loanDepot is a Moderate Buy with an average price target of $22.77, implying a 19.8% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a $22.00 price target.
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Founded in 2010, California-based loanDepot Inc. is a consumer lending and real estate services provider. It sells mortgage and non-mortgage lending products and is among the largest retail mortgage lenders in the U.S. The company also provides settlement services, real estate services, and insurance brokerage services.