Credit Suisse Starts Finance of America (FOA) at Outperform

Credit Suisse analyst Douglas Harter initiates coverage on Finance of America (NYSE: FOA) with a Outperform rating and a price target of $12.00.

The analyst comments "We are initiating coverage of Finance of America (FOA) with an Outperform rating and a $12 target price. Our target price is derived using 7.1 times our 2022 EPS estimate, which is above our median target multiple for the sector given we believe its diversified origination platform should provide secular growth opportunities to help cushion the cyclical declines in forward mortgage originations. We see further potential upside to the target multiple if FOA is able to demonstrate growth in the reverse and commercial segments, which should result in a more stable earnings stream than forward-only peers."

For an analyst ratings summary and ratings history on Finance of America click here. For more ratings news on Finance of America click here.

Shares of Finance of America closed at $8.44 yesterday.

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