Market Overview

UPDATE: Sterne Agee Upgrades Annaly Capital Management to Neutral on Rising Mortgage Rates

Related NLY
Top 4 Stocks In The REIT-Diversified Industry With The Highest Revenue
GNC, Southern Copper And Others Insiders Have Been Buying

Sterne Agee upgraded Annaly Capital Management (NYSE: NLY) from Underperform to Neutral and raised the price target from $13.50 to $14.25.

Sterne Agee noted, "The shares of NLY are selling at our expected price to book multiple of 90% and only modestly above our new price target of $14.25. The challenges to the agency-only model are well known, and rising mortgage rates could provide some relief to expected CPRs and reinvestment rates."

Annaly Capital Management closed at $14.66 on Thursday.

Latest Ratings for NLY

DateFirmActionFromTo
Sep 2014CitigroupMaintainsNeutral
Aug 2014Deutsche BankMaintainsHold
Aug 2014Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for NLY
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Analyst Ratings

 

Related Articles (NLY)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters