While KBW didn't raise its earnings estimates or price target for the shares, George upgraded Ocwen because of "the upside to our $40 price target." The analyst estimates that Ocwen will earn $4.66 a share in 2013, with EPS increasing to $5.32 in 2014.
Ocwen's shares were up a whopping 138% year-to-date, through Wednesday's close, however, the shares were still trading for a relatively low 7.7 times the consensus 2013 EPS estimate of $4.46, among analysts polled by Thomson Reuters. The consensus 2014 EPS estimate is $5.02.
Interested in more on Ocwen Financial? See TheStreet Ratings' report card for this stock.-- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn