UPDATE: Wunderlich Securities Raises PT to $23 on Invesco Mortgage
Wunderlich Securities reiterated its rating on Invesco Mortgage (NYSE: IVR) at Buy and raised its price target from $21 to $23.
Wunderlich Securities noted, "We are raising our price target on Buy-rated Invesco Mortgage (IVR) from $21 to $23, and we anticipate total returns to shareholders of just under 20% in a one-year holding period. We believe the current indicated dividend is sustainable, and that the company can benefit from the increase in the fair value of its agency RMBS portfolio and accelerate the turnover of that portfolio by selling interest sensitive assets and investing in carefully selected credit sensitive assets where pricing has not been distorted by monetary policy.
Invesco Mortgage closed at $21.54 on Friday.
Latest Ratings for IVR
|Aug 2016||Keefe Bruyette & Woods||Maintains||Outperform|
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