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Morgan Stanley analyst Jeffrey Adelson lowered the firm’s price target on UWM Holdings (UWMC) to $6.50 from $7.50 and keeps an Equal Weight rating on the shares. The 2024 story was “one of stabilization,” as higher delinquencies moderated to the slowest pace in nearly three years. Looking to 2025, support should remain in place, with easing inflation, positive real wage growth, stable-to-lower interest rates, rational lending standards, says the firm, which sees consumer credit “on solid footing in 2025.”
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