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UPDATE: Credit Suisse Initiates Coverage on New York Mortgage Trust On Good Market Position

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In a report published Monday, Credit Suisse analyst Douglas Harter initiated coverage on New York Mortgage Trust (NASDAQ: NYMT) with a Neutral rating and $7.50 price target.

In the report, Credit Suisse noted, “We are initiating on New York Mortgage Trust with a Neutral rating and a $7.50 target price. While we see NYMT as well positioned for the current environment, this is already reflected in the estimated 15% premium to our estimated pro-forma book value. We see 12% total return potential for NYMT over the next 12 months, largely from the dividend, which warrants a Neutral rating.”

New York Mortgage Trust closed on Friday at $7.74.

Latest Ratings for NYMT

DateFirmActionFromTo
May 2021B of A SecuritiesDowngradesNeutralUnderperform
May 2021B. Riley SecuritiesInitiates Coverage OnBuy
Nov 2020B of A SecuritiesMaintainsNeutral

View More Analyst Ratings for NYMT
View the Latest Analyst Ratings

 

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Posted-In: Credit Suisse Douglas HarterAnalyst Color Initiation Analyst Ratings

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