UPDATE: Deutsche Bank Upgrades Hatteras

According to a research report published earlier today, Deutsche Bank has upgraded Hatteras

to a Buy rating. In the report, Deutsche Bank said, “Earlier this week, Hatteras priced a secondary offering, raising gross proceeds of roughly $475 million. We believe the new capital will be deployed at spreads accretive to the portfolio and are raising our 2012 and 2013 estimates. Given the attractive returns on the new capital as well as shares trading at a roughly 2% premium to our pro forma book value estimate, we are upgrading shares of Hatteras to a Buy. Our target remains $31 per share.” Hatteras closed yesterday at $27.37.