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UPDATE: Jefferies Raises PT on PennyMac Investment Trust Following Strong 2Q Beat

Related PMT
UPDATE: Piper Jaffray Initiates Coverage On PennyMac Mortgage Investment Trust On Unique Mortgage Vehicle
Credit Suisse Expects Outperformance From PennyMac Mortgage Investment Trust

In a report published Friday, Jefferies analyst Daniel Furtado reiterated a Buy rating on PennyMac Mortgage Investment Trust (NYSE: PMT), and raised the price target from $23.00 to $24.00.

In the report, Jefferies noted, “PMT reported a 2Q beat largely on the back of strong correspondent volumes and healthy margins. Opportunities remain plentiful, including a potential jumbo securitization, excess MSR I/O investment , and strong pipeline of distressed assets. We see the company performing well in an up-rate environment and reiterate our Buy rating.”

PennyMac Mortgage Investment Trust closed on Thursday at $22.79.

Latest Ratings for PMT

DateFirmActionFromTo
Oct 2014Imperial CapitalInitiates Coverage onNeutral
Oct 2014Piper JaffrayInitiates Coverage onNeutral
May 2014Compass PointMaintainsBuy

View More Analyst Ratings for PMT
View the Latest Analyst Ratings

Posted-In: Daniel Furtado JefferiesAnalyst Color Price Target Analyst Ratings

 

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