RBC Cuts Rocket Companies Price Target to $15

Royal Bank of Canada (RBC) has reduced its price target for Rocket Companies (NYSE: RKT) from $20.00 to $15.00 in a research note issued on Friday.

This downgrade comes after several other analysts have also lowered their price targets for the company, including Wells Fargo & Company and Barclays. Despite these cuts, some firms remain bullish on RKT, with Benchmark maintaining a 'buy' rating and Morgan Stanley upgrading its rating to 'overweight'.

Rocket Companies has seen its share price increase by 3.1% in recent trading, reaching $13.63 after 41,116,701 shares were exchanged.