Credit Suisse Expects Outperformance from PennyMac Mortgage Investment Trust

In a report published Monday, Credit Suisse analyst Douglas Harter reiterated an Outperform rating and $24.00 price target on

. In the report, Credit Suisse noted, “PMT will continue to deploy capital attractively into servicing related assets and earnings will increase to cover the dividend from the low of the first quarter. The combination of these positives coupled with an attractive valuation will allow PMT to outperform from a total return perspective.” PennyMac Mortgage Investment Trust closed on Friday at $21.49.