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Benzinga
Benzinga
Business
Wayne Duggan

Analyst Downgrades Rocket Companies, Says Refinancing Mortgage Volumes 'Likely Headed Meaningfully Lower'

Investors are expecting interest rates to start rising sharply in coming months, and one analyst said Tuesday that rising rates are bad news for Rocket Companies Inc (NYSE:RKT).

The Analyst: Bank of America analyst Mihir Bhatia downgraded Rocket from Neutral to Underperform and cut the price target from $21 to $11.

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