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UPDATE: Credit Suisse Reinstates Coverage On New Residential Investment As Advances Are Performing Better Than Expected

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UPDATE: Piper Jaffray Initiates Coverage On New Residential Investment Corp. On Differentiated Mortgage REIT
New Residential Investment (NRZ) Sees Hammer Chart Pattern: Time to Buy? - Tale of the Tape

In a report published Friday, Credit Suisse analyst Douglas Harter reinstated coverage on New Residential Investment Corp. (NYSE: NRZ) with an Outperform rating and $7.00 price target.

In the report, Credit Suisse noted, “We are reinstating coverage of New Residential with an Outperform rating and a $7 target price. The current mix of business allows NRZ to generate an attractive return that is not sensitive to interest rates. We also see enough breadth to the NRZ opportunity set that we have confidence in the sustainability of returns. The combination of these factors give us confidence in NRZ's ability to deliver attractive risk-adjusted returns.”

New Residential Investment closed on Thursday at $6.20.

Latest Ratings for NRZ

DateFirmActionFromTo
Nov 2014UBSInitiates Coverage onBuy
Oct 2014Imperial CapitalInitiates Coverage onNeutral
Oct 2014Piper JaffrayInitiates Coverage onNeutral

View More Analyst Ratings for NRZ
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