Climbs After Coverage

Shares of online mortgage provider (Nasdaq: MDCM) soared more than 11.5 percent on Wednesday, gaining 1-13/16 to 17-1/2. benefited from a strong buy rating and a $28 price target from U.S. Bancorp Piper Jaffray, which was a co-manager for the company’s recent initial public offering. One day earlier, received a buy rating from Credit Suisse First Boston, which was the lead underwriter of the company’s IPO. stock has performed well after a lackluster debut last month. The company offered 7.06 million shares at $8 after originally intending to offer 7.5 million shares at a price range of $10 to $12. The stock closed its first day of trading on August 12 down 27/32 to 7-5/32. The stock has more than doubled since then, and things may be looking up. The recent decision to raise interest rates by the Federal Reserve could help mortgage companies like

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