Rocket Companies jumps after brokerages upgrade rating on stock

Mortgage lender Rocket Companies' RKT.N shares jump 9.9% to $13.85 after brokerages upgrade their ratings on the stock

KBW upgrades RKT to "market perform" from "underperform" following the announcement of $9.4 billion acquisition of home loan service provider Mr Cooper Group COOP.O

Says COOP acquisition creates a more balanced business model and gives it more confidence in its RKT earnings estimates

Deutsche Bank upgrades RKT to "buy" from "hold" also on the back of proposed COOP acquisition

Says deal provides RKT a big step toward its ambitious 2027 market share targets laid out last year

One of 12 brokerages rate the stock "buy" or higher, 10 "hold" and 1 "sell"; median PT is $14 - data compiled by LSEG

As of last close, RKT shares up 18.2% YTD