Is Rocket Companies (RKT) One of the Best Cheap Stocks to Buy Under $20?

Rocket Companies, Inc. (NYSE:RKT) is one of the best cheap stocks to buy under $20. On April 23, Stephens initiated coverage of Rocket Companies, Inc. (NYSE:RKT) with an Overweight rating, setting a $22.50 price target on the stock and telling investors that across real estate finance, it recommends companies with the lowest cyclicality and potential to unlock multiple expansion by generating consistent earnings growth across cycles. In this context, Stephens sees Rocket Companies, Inc. (NYSE:RKT) as “best positioned” and set to ultimately generate consistent, consolidated growth.

Rocket Companies, Inc. (NYSE:RKT) also received a rating update from JPMorgan on April 9. The firm cut the price target on the stock to $16.50 from $24 and maintained a Neutral rating on the shares. It adjusted price targets in the consumer finance group as part of a fiscal Q1 earnings preview, and told investors in a research note that the macroeconomic environment “remains volatile and unpredictable”. According to JPMorgan, “selectivity remains paramount” in this environment.

Rocket Companies, Inc. (NYSE:RKT) provides a range of services associated with homeownership and other personal financial transactions. The company’s operations are divided into the following segments: Direct to Consumer and Partner Network.

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