1442 ET - Following a run-up after 3Q results, UBS says reverse-mortgage seller Finance of America isn't likely "to appreciate meaningfully from current levels," as it cuts shares to neutral from buy. But, longer term, the analysts say they see favorable demographics that could support earnings growth. "Signs of progress of deeper adoption of reverse mortgage poses the biggest upside risk to our downgrade," they write, "while the negative impact of higher rates on volumes/revenue margins could pose additional downside risk to shares." UBS raises the price target to $24 from $14. Shares tumble 16% to $19.60. (connor.hart@wsj.com)
(END) Dow Jones Newswires
November 20, 2024 14:42 ET (19:42 GMT)
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