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UPDATE: Wunderlich Securities Upgrades American Capital Agency to Buy on Asset Strength

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Wunderlich Securities raised its rating on American Capital Agency (NASDAQ: AGNC) from Hold to Buy and raised its price target from $30 to $34.

Wunderlich Securities noted, "American Capital Agency (AGNC) delivered a 59% annualized economic return in 3Q12, comprised of $1.25 in dividends and $3.08 in appreciation in book value per share. While we believe that achieving that rate of return was largely a function of the QE3-inspired rally in agency RMBS, we believe returns over the next two years will be a function of portfolio is comparatively and absolutely well positioned to deliver value in 2013, though perhaps at a more sedate pace. Using our revised outlook for earnings based on 3Q12 equity allocation, we are raising our estimates and increasing our price target to $34."

American Capital Agency closed at $32.00 on Friday.

Latest Ratings for AGNC

DateFirmActionFromTo
Dec 2016Bank of AmericaDowngradesNeutralUnderperform
Dec 2016Compass PointDowngradesBuyNeutral
Dec 2016Credit SuisseDowngradesOutperformNeutral

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Posted-In: Wunderlich SecuritiesAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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