Compass Point Maintains a 'Buy' on Federal Agricultural Mortgage Corp (Farmer Mac) (AGM); Q1 Review

May 11, 2012 7:10 AM EDT Send to a Friend
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Price: $35.60 --0%

Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 31 | Down: 9 | New: 30
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Compass Point maintains a 'Buy' on Federal Agricultural Mortgage Corp (Farmer Mac) (NYSE: AGM) price target of $41.00.

Analyst, Mike Turner, said, "AGM reported GAAP EPS of $2.04 and Core of $1.08, which was $0.03 ahead of our expectation, though the beat was mostly attributed to a difference in tax rate. Program assets and expenses were in-line with our expectation and credit quality remained strong. That said, the net effective spread of 94 bps was 8 bps below our expectation. As the spread can bounce by 8-10 bps per quarter, we reserve judgment for the call as to whether this is a trend, or due to general lumpiness."

For an analyst ratings summary and ratings history on Federal Agricultural Mortgage Corp (Farmer Mac) click here. For more ratings news on Federal Agricultural Mortgage Corp (Farmer Mac) click here.

Shares of Federal Agricultural Mortgage Corp (Farmer Mac) closed at $25.57 yesterday.




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