Loading...
Loading...
In a report published Tuesday, Bank of America analyst Kenneth Bruce reiterated an Underperform rating on
Hatteras FinancialHTS, and raised the price target from $16.00 to $17.00.
In the report, Bank of America noted, “Our $17 price objective is based on a 0.9x P/BV multiple to our pro-forma BV estimate in a rising rate environment. We expect HTS to continue to trend toward BV as interest income stabilizes. HTS' focus on relatively low yielding ARM investments implies it may be more exposed to more yield compression than its peer. That said, HTS' focus on ARMs may provide relatively high BV stability if rates continue to rise.”
Hatteras Financial closed on Monday at $19.76.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in