FTSE 100 today: Stocks rise on mining, chemical firm gains; U.K. borrowing up By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
UK Stock Market Performance: British stocks rose, driven by chemical and mining companies, while government borrowing in March reached £16.44 billion, exceeding expectations and pushing total borrowing for the fiscal year to £151.9 billion.
Economic Indicators and Trade Talks: The UK's composite PMI fell below forecasts, indicating economic contraction, while the U.S. is negotiating to lower tariffs with the UK, particularly aiming to reduce automotive tariffs from 10% to 2.5%.
Analyst Views on RKT
Wall Street analysts forecast RKT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RKT is 22.18 USD with a low forecast of 18.00 USD and a high forecast of 25.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
5 Buy
6 Hold
0 Sell
Moderate Buy
Current: 21.500
Low
18.00
Averages
22.18
High
25.00
Current: 21.500
Low
18.00
Averages
22.18
High
25.00
About RKT
Rocket Companies, Inc. is a fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Mr. Cooper, Rocket Homes, Rocket Close, Rocket Money, and Rocket Loans. The Company's full suite of products empowers its clients across financial wellness, personal loans, home search, mortgage finance, title and closing. Through these businesses, it delivers client solutions leveraging its Rocket platform. It operates in two segments: Direct to Consumer and Partner Network. In the Direct to Consumer segment, clients have the ability to interact with Rocket Mortgage digitally and/or with the Company's mortgage bankers. It provides client service and leverages its brand to strengthen its wholesale relationships, through Rocket Pro, as well as enterprise partnerships, both driving growth in its Partner Network segment. The Company's capabilities span the entirety of homeownership, such as home search, financing, title, closing and servicing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
