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PHH Corporation Message Board

  • citiccgirl citiccgirl Oct 27, 2012 12:07 PM Flag

    PHH target raised to $25 from $23 at FBR Capital. Firm notes they expect co to report a strong core number.

    08-Oct-12 06:05 ET
    •PHH Corp (PHH 22.16) target raised to $25 from $23 at FBR Capital. Firm notes they expect co to report a strong core number. They believe that investors have already factored a write-down into shares and are more focused on the co's strong core revenue potential in the current mortgage banking environment. Given falling mortgage rates, heavy HARP refi volumes to come, and expectations for elevated gain-on-sale margins to continue, they believe co remains well positioned for a series of strong operating quarters that should continue to drive shares higher.

    Sentiment: Strong Buy

 
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