Market Overview

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

Share:
Related AF
Ronnie Moas: KeyCorp Stock Is 'Looking Good'
Benzinga's Weekend M&A Chatter

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

DateFirmActionFromTo
Aug 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Feb 2016MacquarieMaintainsNeutral
Nov 2015BarclaysMaintainsEqualweight

View More Analyst Ratings for AF
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Upgrades Analyst Ratings

 

Related Articles (AF)

View Comments and Join the Discussion!