Loading...
Loading...
In a report published Monday, Deutsche Bank reiterated its Hold rating on American Capital Agency
AGNC, and raised its price target from $34.25 to $35.75.
Deutsche Bank noted, “Expect dividend cut in 1Q; Maintain Hold - AGNC reported mixed 3Q results, as earnings missed our estimate but BV was up 10%. We believe AGNC's portfolio is attractive, as the majority of the assets are less sensitive to prepays. Additionally, the valuation is attractive with shares trading roughly in line with 9/30 BV. However, with comparable companies trading at discounts to BV and given our expectation of a dividend cut in 1Q13, we are maintaining our Hold rating. We are increasing our target to $35.75 per share.”
American Capital Agency closed on Friday at $32.43.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in