{
  "id": 12368129,
  "title": "Wells Fargo cuts Rocket Cos stock price target on mortgage outlook",
  "url": "https://urgent.news/2026/10/06/wells-fargo-cuts-rocket-cos-stock-price-target-on-mortgage-outlook",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T11:26:50.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/wells-fargo-cuts-rocket-cos-stock-price-target-on-mortgage-outlook-93CH-4934112"
  },
  "original_language": "en",
  "account": "Wells Fargo has reduced its price target for Rocket Cos Inc. (NYSE: RKT) from $15.00 to $13.00, while keeping an Equal Weight rating. The stock is currently trading at $11.68, near its 52-week low of $11.25, with a 40% year-to-date decline. The firm lowered its revenue forecast for Q3 2026, projecting $2.59 billion instead of $2.63 billion, placing it below consensus and the company's guidance range. This adjustment stems from a smaller mortgage market, lower gain-on-sale revenue, and slower mortgage servicing rights amortization. The company's 2026 and 2027 EPS estimates were also cut by 1 and 15 cents to $0.61 and $0.80, respectively, falling short of the consensus estimates of $0.85. Despite the challenging outlook, the stock appears overvalued, trading at a high P/E ratio of 66.37. Wells Fargo anticipates Rocket’s fourth-quarter revenue to fall below analyst expectations due to mortgage market conditions. Rocket Companies reported its Q2 2026 earnings, missing analysts' expectations with adjusted diluted earnings of $0.16 per share on $2.76 billion revenue. However, the company highlighted its profitability and market share gains. StoneX maintained a Buy rating with a $19.00 price target, citing Rocket's market share improvements. Investors are wary of the modest miss and cautious third-quarter outlook.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}