UPDATE: Sterne Agee Upgrades Hatteras Financial; Establishes PT

According to a research report published today, Sterne Agee has upgraded Hatteras Financial HTS from Neutral to Buy, and established a $29 PT. In the report, Sterne Agee said, “On the release of Hatteras Financial's 15mm share equity offering, we are upgrading our rating from NEUTRAL to BUY and establishing a $29.00 price target for the shares. We expect the deal will be accretive to both book value and net interest rate spreads, and will likely be in high demand due to the company's low interest rate exposure and disciplined, consistent asset selection approach.” Hatteras Financial closed yesterday at $27.32.