Piper Jaffray Highlights ASPS Shares

Piper Jaffray is highlighting Altisource Portfolio Solutions (NASDAQ: ASPS) shares for '11 due to:

“1) Increased confidence in our 4Q10 and full-year '11 revenue growth (due to HomEq portfolio ramp, unwinding of foreclosure backlog, and approval for CA title license).

“2) ASPS's push into mortgage origination services (increases visibility of long-term growth), and 3) potential for additional portfolio acquisitions by OCN (potential for material upside to our '12 estimates). We believe ASPS's shares are attractively valued, trading at 11.0x/9.8x our '11/'12 EPS estimates, with positive catalysts on the horizon.”

Piper Jaffray has reiterated its Overweight rating on Altisource Portfolio Solutions, which closed Wednesday at $29.02.