Keefe Bruyette upgraded UWM Holdings to Outperform from Market Perform on June 25, while lowering the price target from $4.50 to $3.75. The firm expects mortgage rates to remain elevated around 6.25% to 6.5% through 2028, prompting broad price-target cuts across title insurers and mortgage originators. Despite the cautious outlook, the analyst believes UWM Holdings is attractively priced at current valuations and views a likely dividend cut as a constructive near-term positive that would allow the company to retain capital and strengthen its balance sheet.
UWM Holdings CorpUpgraded to Outperform by Keefe Bruyette, with analyst citing attractive valuation and constructive view on likely dividend cut to retain capital.