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UPDATE: Deutsche Bank Downgrades CreXus to Hold, But Raises PT

Related CXS
Annaly, CreXus Report Final Results of Tender Offer, Annaly Exercised Option for Added CreXus Shares
Annaly Commences Offer to Purchase All CreXus Shares

In a report published Monday, Deutsche Bank downgraded Crexus Investment Corp. (NYSE: CXS) from Buy to Hold, but increased its price target from $12 to $12.50.

Deutsche Bank noted, "We do not expect any other bidders to emerge and expect CXS to accept Annaly's offer. As a result, we are increasing our target to $12.50 per share from $12 per share. Our new target is based on Annaly's all-cash offer. Given we expect CXS to accept NLY's offer and with shares trading within 1% of the all-cash offer, we are downgrading shares of CXS to a Hold from a Buy."

CreXus closed at $12.43 on Monday.

Latest Ratings for CXS

DateFirmActionFromTo
Feb 2013RBC CapitalDowngradesOutperformSector Perform
Nov 2012JP MorganDowngradesOverweightNeutral
Nov 2012Deutsche BankDowngradesBuyHold

View More Analyst Ratings for CXS
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Downgrades Analyst Ratings

 

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