UPDATE: Jefferies Reiterates Hold Rating, Raises PT on American Capital Agency Corp. on Better-Than-Expected Results

In a report published Monday, Jefferies reiterated its Hold rating on American Capital Agency Corp. AGNC, and slightly raised its price target from $30.00 to $31.00. Jefferies noted, “Overall results were better than our expectations as spread income was $0.10/share ahead of our forecast, net interest spread expanded during the quarter, and the company posted an unexpected $0.29/share in dollar roll income during the quarter. Book value declined approximately 2.6% Q/Q, or $0.85/ share to $31.64.” American Capital Agency Corp. closed on Friday at $31.20.