Deutsche Bank Reiterates CreXus Buy Rating; Raises PT To $15
Deutsche Bank is reiterating its buy rating for CreXus Investment Corp. (NYSE: CXS) following strong 3Q results.
“CreXus reported better than expected 3Q earnings and grew its investment portfolio by over $100 million to $395 million during the quarter,” Deutsche Bank writes. “We expect the 3Q investments as well as additional investments in 4Q and 1H11 to drive continued sequential earnings growth. With shares currently trading below book value and our expectation of continued earnings growth, we are reiterating our Buy rating. We are increasing our target to $15 per share.”
CreXus currently trades at $12.25.
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