Wells Fargo Drops Coverage Of NRF And NEWS

Wells Fargo is dropping its equity research coverage of NewStar Financial, Inc. NEWS and Northstar Realty Finance Corp. NRF due to a change in coverage focus. “Our final rating on the shares of NEWS is Market Perform,” Wells Fargo writes. “Our final rating on the shares of NRF is Outperform.” Effective immediately, Wells Fargo said that its final recommendations should not be relied upon for future investment decisions. NewStar Financial currently trades at $9.15; Northstar Realty Finance Corp. trades at $4.32.