UPDATE: Credit Suisse Initiates AG Mortgage Investment Trust at Neutral; Valuation Reflects Diversification

Credit Suisse initiated coverage on AG Mortgage Investment Trust

with a Neutral rating and a $26.00 price target. Credit Suisse noted, "We are initiating on AG Mortgage with a Neutral rating and a $26 target price. While we see MITT as well positioned for the current environment, this is already reflected in the current 7% premium to book value. We see 12% total return potential for MITT over the next 12 months, which warrants a Neutral rating. … MITT currently trades at a 9% premium to our estimate of current book value and yields 12%." AG Mortgage Investment Trust closed at $26.72 on Monday.