Redwood Trust RWT is believed to be well positioned to capitalize on the eventual growth of the private label security market, according to Jefferies.
EPS missed the Street's estimates by $0.20 with the variance focused on market valuation adjustments and realized gains, both inherently volatile items, according to Jefferies.
Jefferies has lowered the price target from $20 to $18, and maintains its "buy" rating, estimating that RWT will play a dominating role in the rebirth of the mortgage security market.
Redwood Trust closed yesterday at $15.90.
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Posted In: EarningsLong IdeasNewsPrice TargetMarketsAnalyst RatingsFinancialsJefferies & CompanyMortgage REIT'sRedwood Trust
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