Wunderlich Securities Upgrades CMO To Buy

Wunderlich Securities has issued a report upgrading Capstead Mortgage Corporation (NYSE: CMO) from a Hold Rating to Buy.

Wunderlich Securities writes, "Capstead Mortgage (CMO) reported that it had raised approximately $60 million through its continuous offering program during 1Q11, and that it had increased leverage to 7.9 times. This will have a positive impact on its earnings run rate, and we are raising our earnings estimate."

CMO has a $14 Price Target and closed yesterday at 412.86 a share.