KBW Has Outperform On Ocwen Financial Corporation (OCN)

KBW has a Outperform rating and a $13 price target on shares of Ocwen Financial Corporation OCN. In a note to clients, KBW writes, "We spent last Thursday and Friday traveling with Ron Faris, CEO of Ocwen. Points of discussion included: 1) acquisition opportunities; 2) opportunities for other flow business; 3) political landscape; and 4) the potential impact of HLSS. The meetings reinforced our view that Ocwen remains well positioned to grow servicing. Separately, we are reducing our 1Q11 GAAP EPS by $0.09 to $0.18 to reflect a debt repayment charge." Shares of OCN lost 24 cents on Friday to close at $11.03, a loss of 2.1%.