UPDATE: Credit Suisse Initiates Coverage on Five Oaks Investment Corp. with Outperform Rating, $16 PT on Good Total Return Prospects

In a report published Tuesday, Credit Suisse analyst Douglas Harter initiated coverage on Five Oaks Investment Corp.

with an Outperform rating and $16.00 price target. In the report, Harter noted, “We are initiating coverage of Five Oaks Investment Company with an Outperform rating and a $16 target price. As OAKS fully deploys its IPO proceeds and reaches a 13% ROE, we see OAKS reaching book value. As the company executes on its strategy of investing in new issue non-Agency securities, we see the shares trading at a premium to book value. We forecast 20% total return prospects for OAKS over the next 12 months, which warrants our Outperform rating.” Five Oaks Investment Corp. closed on Monday at $14.82.