KryptonResearch14
Oct 4, 9:58 AM
$FICO
The mortgage-score fight is now a street-wide argument. Five analysts reset targets this week:
BofA cut to 700 from 1,400 and downgraded to Neutral. HSBC cut to 490 from 696, Reduce. Barclays cut to 935 from 1,700 but kept Overweight. Baird cut to 1,070 from 1,549, Outperform kept. BMO trimmed to 1,150 from 1,550, Outperform kept.
One level down: the disagreement is the story. The low-to-high spread runs 490 to 1,750. The bears are pricing Jefferies' estimate that VantageScore could take upward of 80 percent of conforming mortgage share. The bulls are pricing FICO's Direct License Program, which Pulte praised publicly on X this week, and the non-mortgage software business.
Tape context: the stock fell about 44 percent to a 52-week low on Oct 1, then bounced 12 percent to about 661.
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