HomeMarket NewsSmall CapsUWM Holdings Surges 7% as BTIG Upgrades Stock to Buy

UWM Holdings Surges 7% as BTIG Upgrades Stock to Buy

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UWM Holdings Corp (UWMC) saw a significant increase in its share price on Thursday after receiving an upgrade from BTIG.

BTIG Upgrades UWM Holdings

BTIG analyst Eric Hagen recently upgraded UWM Holdings from a Neutral rating to a Buy rating, with a price target of $6. This upgrade comes after Goldman Sachs lowered its price target from $6.50 to $5.50 earlier in the week, maintaining a Neutral rating.

Among the 13 analysts covering UWM Holdings, four have positive ratings, six have neutral ratings, and three have negative ratings. Price targets for the stock currently range from $2.50 to $9.50.

Several analysts updated their ratings following UWM Holdings’ better-than-expected quarterly results in August. Wedbush, Goldman Sachs, and Morgan Stanley all raised their price targets at that time.

Upcoming Earnings

UWM Holdings is scheduled to report its earnings again in early November, although an official date has not been confirmed by the company. Analysts estimate third-quarter earnings of 5 cents per share and anticipate revenue of $471.45 million.

UWM Holdings’ Stock Performance

Following the upgrade from BTIG, UWM Holdings’ shares closed Thursday up 7.92% at $5.04.

Photo: 3844328 from Pixabay.

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