UPDATE: Wunderlich Securities Upgrades American Capital Agency to Buy on Asset Strength
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
|Dec 2016||Bank of America||Downgrades||Neutral||Underperform|
|Dec 2016||Compass Point||Downgrades||Buy||Neutral|
|Dec 2016||Credit Suisse||Downgrades||Outperform||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.