Wunderlich Upgrades CYS Investments on Q214 Earnings

In a noted released Tuesday morning Wunderlich analyst, Merrill Ross upgraded shares of CYS Investments

from Hold to Buy and raised the price target from $9 to $11. Ross wrote, "We expect CYS to seize the moment to rebuild its investment portfolio to about $19 billion by year-end 2014 at a low basis that can support higher returns." For full-year 2014 Ross has raised the firm's EPS estimate to $1.49 and made a preliminary estimate for 2015 of $1.93. Following the release of the note, shares of CYS Investments traded up over two percent to $9.23 in the pre-market session.