BUZZ-Finance of America slides after UBS downgrades stock

Reuters

Nov 21, 2024

** Shares of retirement offerings platform Finance of America slide as much as 22.7%, last down 19.8% at $18.91

** UBS downgrades FOA to "neutral" from "buy," citing the stock's strong rally in November

** Brokerage says with the positive news from Q3 earnings and the debt exchange deal already announced, it does not see a catalyst for the shares to rise meaningfully from current levels

** Meanwhile, UBS raises PT to $24 from $14, a 2% upside to stock's last close

** One brokerage rates the stock "buy" and one "hold"; median PT is $18.50 — data compiled by LSEG

** As of last close, FOA shares have more than doubled YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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median PT is $18.50 — data compiled by LSEG</p><p>   ** As of last close, FOA shares have more than doubled YTD</p><p> (Reporting by Arasu Kannagi Basil in Bengaluru)</p><p>((ArasuKannagi.Basil@thomsonreuters.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Finance of America slides after UBS downgrades stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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median PT is $18.50 — data compiled by LSEG</p><p>   ** As of last close, FOA shares have more than doubled YTD</p><p> (Reporting by Arasu Kannagi Basil in Bengaluru)</p><p>((ArasuKannagi.Basil@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FOA","symbol_name":"Finance of America Companies Inc","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2485414079","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485414079","pubTimestamp":1732123828,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** Shares of retirement offerings platform Finance of America    slide as much as 22.7%, last down 19.8% at $18.91   ** UBS downgrades FOA to \"neutral\" from \"buy,\" citing the stock's strong rally in November   ** Brokerage says with the positive news from Q3 earnings and the debt exchange deal already announced, it does not see a catalyst for the shares to rise meaningfully from current levels   ** Meanwhile, UBS raises PT to $24 from $14, a 2% upside to stock's last close    ** One brokerage rates the stock \"buy\" and one \"hold\"; 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