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UPDATE: Credit Suisse Reiterates On Apollo Residential Mortgage As Risk/Reward Is Still Favorable


In a report published Tuesday, Credit Suisse analyst Douglas Harter reiterated an Outperform rating on Apollo Residential Mortgage (NYSE: AMTG), and raised the price target from $17.00 to $18.00.

In the report, Credit Suisse noted, “The first part of 2014 has been favorable to the mortgage REIT sector, both in terms of rates and spreads. While we expect the environment to turn less favorable over the next 12 months with rising rates and widening Agency spreads we think the discounts to book value reflect this expectation. The majority of the expected return from the sector will come from the 11% dividend yield, which we find attractive in the persistent low rate environment.”

Apollo Residential Mortgage closed on Friday at $16.51.

Latest Ratings for AMTG

Apr 2016JP MorganDowngradesOverweightNeutral
Feb 2016Credit SuisseDowngradesOutperformNeutral
Aug 2015Keefe Bruyette & WoodsMaintainsOutperform

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Posted-In: Credit Suisse Douglas HarterAnalyst Color Price Target Analyst Ratings

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