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Rating: PHH
Neutral $26

Phh Corp (NYSE: PHH) downgraded to Neutral with price target $26 by Compass Point

Tuesday,  Jun 3, 2014  12:00 AM ET by Kristen Bailey

Compass Point downgraded Phh Corp (NYSE: PHH) to Neutral with price
target $26. Compass Point rated Phh Corp (NYSE: PHH) to Buy with price target $26 on 06/24/2013, when the price was $19.86.

PHH Corporation (PHH) is an outsource provider of mortgage and fleet management services. The Company operates in three segments: Mortgage Production, Mortgage Servicing and Fleet Management Services. PHH's Mortgage Production segment originates, purchases and sells mortgage loans through its wholly owned subsidiary, PHH Mortgage Corporation and its subsidiaries (collectively, PHH Mortgage), which is inclusive of PHH Home Loans and STARS. The Company's Mortgage Servicing segment services mortgage loans that either PHH Mortgage or PHH Home Loans originated, or for which PHH Mortgage purchased the mortgage servicing rights. PHH's Fleet Management Services segment provides commercial fleet management services to corporate clients and government agencies throughout the United States and Canada through its wholly owned subsidiary, PHH Vehicle Management Services Group LLC, doing business as PHH Arval.

Compass Point is a financial services firm comprised of specialized professionals in the areas of research, sales, trading and investment banking. We seek to be our client's advisor of choice.



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