UPDATE: Ladenburg Thalmann Initiates Buy, $29 PT on Arlington Asset Investment
Earlier today, Ladenburg Thalmann initiated coverage on Arlington Asset Investment (NYSE: AI) with a Buy rating and a PT of $29.
Ladenburg Thalmann believes that "AI offers an attractive combination of a strong dividend with book value growth." and that "core EPS will peak in 2012 due to the lack of hedge expense. Our 2012 and 2013 EPS estimates are $4.60 and $4.55, respectively. We believe that the company will choose to keep the dividend at $0.875, or $3.50 annually to allow for book value growth."
The closing price for AI yesterday was $22.5
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