UPDATE: Wunderlich Securities Raises PT to $8 on MFA Financial on Bond Market Rally
Wunderlich Securities reiterated its Hold rating on MFA Financial (NYSE: MFA) but raised its price target from $7.50 to $8.
Wunderlich Securities noted, "Our earnings outlook for Hold-rated MFA Financial (MFA) highlights the allocation of its equity to credit-sensitive assets, levered under longer-term financings which carry less risk, and are also more expensive. While we respect that value could be created in the future based on the low cost basis in its investment portfolio and significant credit protections in non-agency bonds, we believe dividends remain under modest pressure. Still, an estimated distribution of $0.75 in 2013 could provide price support in a yield-hungry market, so we are raising our target to $8.00 from $7.50."
MFA Financial closed at $8.32 on Friday.
Latest Ratings for MFA
|Sep 2016||FBR Capital||Downgrades||Outperform||Market Perform|
|Aug 2016||Deutsche Bank||Maintains||Hold|
|Apr 2016||Wells Fargo||Downgrades||Market Perform||Underperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.