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Deutsche Bank increases its price target from $8 to $8.25 on Buy-rated MFA Financial
MFA following strong Q1 results.
Deutsche Bank says, "Increasing estimates and price target. MFA posted strong 1Q results, with
earnings beating our estimate by 1c and book value increasing 11% to $7.49 per share. Given a slight increase to our portfolio estimates, we are increasing our 2012 and 2013 estimates. We expect 2013 earnings to benefit from higher-costs swaps maturing, as MFA has $860 million of swaps at an average rate of 3.79% scheduled to mature within the next year. We are increasing our target to $8.25 per share given the sequential book value increase."
MFA closed at $7.61 on Friday.
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