Analysts have been eager to weigh in on the Financial sector with new ratings on Genworth Financial (NYSE: GNW), First Foundation (NASDAQ: FFWM) and MFC Bancorp Ltd (NYSE: MFCB).
Genworth Financial (NYSE: GNW)
In a report released yesterday, Mark Palmer from BTIG reiterated a Hold rating on Genworth Financial (NYSE: GNW). The company’s shares opened today at $4.80, close to its 52-week high of $4.92.
Palmer commented:
“Financial’s (GNW) deal to be acquired by $5.43 per share in cash had been viewed as a binary event featuring two key hurdles: approvals from both the States (CFIUS) and the Insurance (DDOI). One of which was removed when the Genworth stated in a press release on Saturday that CFIUS had completed its review of the proposed transaction and concluded that there are no unresolved national security concerns.”
According to TipRanks.com, Palmer is a 5-star analyst with an average return of 11.1% and a 64.4% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.
Currently, the analyst consensus on Genworth Financial is Hold and the average price target is $4, representing a -16.7% downside.
In a report issued on June 6, Wells Fargo also maintained a Hold rating on the stock.
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First Foundation (NASDAQ: FFWM)
In a report released yesterday, Gary Tenner from D.A. Davidson maintained a Buy rating on First Foundation (NASDAQ: FFWM), with a price target of $24. The company’s shares opened today at $20.03, close to its 52-week high of $20.43.
According to TipRanks.com, Tenner is a 5-star analyst with an average return of 22.2% and a 85.4% success rate. Tenner covers the Financial sector, focusing on stocks such as Cathay General Bancorp, Heritage Commerce Corp, and Prosperity Bancshares.
First Foundation has an analyst consensus of Moderate Buy, with a price target consensus of $22.50.
MFC Bancorp Ltd (NYSE: MFCB)
In a report issued on June 10, Colin Sebastian from Robert W. Baird maintained a Buy rating on MFC Bancorp Ltd (NYSE: MFCB). The company’s shares closed yesterday at $6.24, close to its 52-week low of $5.69.
Sebastian observed:
“We estimate that the global interactive entertainment industry will reach ~$145 billion in revenues by 2020, on track to become the largest segment of media and entertainment globally. Along with our updated forecasts, we are highlighting mobile games, eSports, recurring digital revenues, and streaming/cloud services as key areas of growth, with the next console refresh cycle in 2020/2021. Overall, we believe the sector remains a “must own” for investors.”
According to TipRanks.com, Sebastian is a top 25 analyst with an average return of 27.9% and a 80.2% success rate. Sebastian covers the Technology sector, focusing on stocks such as Activision Blizzard, Paypal Holdings, and ChannelAdvisor.
MFC Bancorp Ltd has an analyst consensus of Moderate Buy.
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