Jefferies Raises Price Target On American Capital Agency (AGNC)

Jefferies raised its price target on American Capital Agency (NASDAQ: AGNC) from $30 to $32 and reiterated its Buy rating. The firm calls AGNC the best buy in the mortgage space.

The analyst comments, "AGNC remains well positioned for the current environment, as we anticipate flattish yields for FY'12 to be offset by increasing leverage as CPRs for AGNC's higher fixed coupon, longer duration portfolio remain well contained."

The firm cut Q1 EPS estimates from $1.36 to $1.20 and FY12 from $5.22 to $4.84. FY13 was maintained at $4.56.

For an analyst ratings summary and ratings history on American Capital Agency click here. For more ratings news on American Capital Agency click here.

Shares of American Capital Agency closed at $29.74 yesterday, with a 52 week range of $22.03-$30.76.

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