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UPDATE: Sterne Agee Upgrades Astoria Financial Corp. to Neutral, Reiterates $9 PT

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Guggenheim Securities Upgrades Astoria Financial To Buy

In a report published Monday, Sterne Agee Group upgraded its rating on Astoria Financial Corp. (NYSE: AF) from Underperform to Neutral, and reiterated its $9.00 price target.

Sterne Agee noted, “We are upgrading Astoria Financial from Underperform to Neutral. While fundamentals are expected to remain challenged, we believe the shares are fairly valued at 75% of projected tangible book value. Given the profitability challenges in the low interest rate environment, deal speculation will remain high, in our view. While we are not anticipating a deal, we do see solid upside from current levels if the company were to sell.”

Astoria Financial Corp. closed on Friday at $9.08.

Latest Ratings for AF

Sep 2015Guggenheim SecuritiesDowngradesBuyNeutral
Aug 2015Piper JaffrayMaintainsOverweight
Jun 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for AF
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Upgrades Analyst Ratings


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