UPDATE: Wunderlich Securities Upgrades Two Harbors Investment as Stock is Poised to Strike
In a report published Monday, Wunderlich Securities analyst Merrill Ross upgraded the rating on Two Harbors Investment (NYSE: TWO) from Hold to Buy, and raised the price target from $10.00 to $11.00.
In the report, Wunderlich Securities noted, “We are upgrading the shares of Two Harbors Investment Corp. (TWO) to Buy from Hold and raising our price target to $11. At the company's analyst and investor presentation on February 20, 2014, we became convinced that if mortgage spreads widen (as we expect will be the case) as the FOMC scales back its large scale asset purchases, TWO will be well positioned to defend BVPS and deploy excess liquidity into a RMBS at a lower basis and higher total returns. Based on the company's fluid asset selection, relatively low leverage, diversified funding sources and investment in a true operating platform, we think TWO will create value for shareholders as the residential mortgage market continues to evolve.”
Two Harbors Investment closed on Friday at $10.07.
Latest Ratings for TWO
|Jul 2015||Baird||Initiates Coverage on||Outperform|
|Jun 2015||Nomura||Initiates Coverage on||Neutral|
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