Wunderlich Securities maintained its Buy rating and $27 price target on AG Mortgage Investment Trust MITT on the capital reallocation opportunity from Fed's quantitative easing.
Wunderlich Securities noted, "The market reaction to the announcement of the launch of a third round of asset purchases by the FOMC fits well with our thesis that AG Mortgage (MITT) has the opportunity to reallocate capital from agency to non-agency bonds and create incremental value for shareholders over the next four to six quarters. We are finetuning our EPS estimates, noting that the increase in book value gives a cushion to support the anticipated timing and extent of capital reallocation. Maintain Buy and $27 price target."
AG Mortgage Investment Trust closed at $23.85 on Friday.
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