Cantor Fitzgerald Cuts Price Target on Annaly Capital Management (NLY) Due to Increased Risks

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Cantor Fitzgerald is maintaining its Buy rating on shares of Annaly Capital Management (NYSE: NLY), but is cutting its price target from $18 to $16.75 due to increased risks.

The firm notes that the increased risks include, a refinancing wave induced by a new U.S. Government program, drying up of repo lines, a refinancing wave driven by low mortgage rates, and loss of the SEC exemption from the Investment Company Act of 1940.

Due to the company's current dividend yield and the price appreciation of shares, Cantor Fitzgerald believes that now is a good time to buy.

For more ratings news on Annaly Capital Management click here and for the rating history of Annaly Capital Management click here.

Shares of Annaly Capital Management closed at $16.12 yesterday, with a 52 week range of $14.05-$18.79.

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