Wunderlich Securities Upgrades Invesco Mortgage Capital to Buy, Raises PT to $18
Wunderlich Securities has upgraded Invesco Mortgage Capital (NYSE: IVR) from Hold to Buy and has raised the company's price target to $18 in a research report out today.
In the report, Wunderlich Securities writes, "Based on the portfolio repositioning undertaken in 4Q11, we are upgrading the shares of Invesco Mortgage Capital (IVR) from Hold to Buy, and raising our price target to $18. We believe that the management at IVR has been a disciplined asset buyer, but that the financing and hedging of the portfolio was less successful in 2011 because of a bias toward a steepening of the curve."
Shares of Invesco Mortgage Capital are currently trading at $16.99, up 4.17% from yesterday's close.
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