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UPDATE: Sterne Agee Upgrades Anworth Mortgage Asset Corp to Buy on Relative Valuation

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Sterne Agee upgraded its rating on Anworth Mortgage Asset Corp (NYSE: ANH) from Neutral to Buy with a price target of $7.20.

Sterne Agee commented, "We are upgrading the shares of Anworth Mortgage from NEUTRAL to BUY and establishing a $7.20 price target. Our change in rating is based in most part on our expectation that the shares should trade much closer to net asset value and that the company will be able to maintain (already reduced) dividends at their current level of $0.18. Accordingly, our $7.20 price target is based on 1x 6/30/12 book value, which we believe has increased to date on hybrid RMBS appreciation."

Anworth Mortgage Asset Corp closed at $6.63 on Wednesday.

Latest Ratings for ANH

Nov 2014FBR CapitalMaintainsMarket Perform
May 2014Deutsche BankMaintainsHold
Mar 2014Compass PointDowngradesBuyNeutral

View More Analyst Ratings for ANH
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings


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