Wells Fargo Downgrades Annaly Capital Management (NLY) to Market Perform; A Bellweather, But Now Prefer Hatteras (HTS)

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Wells Fargo downgraded Annaly Capital Management (NYSE: NLY) from Outperform to Market Perform with a price target range $16-17 from $16-18.

Wells analyst says, "We are downgrading shares of NLY as we believe NLY’s longer duration portfolio creates potential risks with rising longer term rates, a potentially expanded HARP 2.0, and if the Federal Reserve institutes QE3. We find NLY’s approximate 13% yield attractive but believe that Hatteras Financial's (NYSE: HTS) 12% yield on a risk/return basis is more appealing."

For an analyst ratings summary and ratings history on Annaly Capital Management click here. For more ratings news on Annaly Capital Management click here.

Shares of Annaly Capital Management closed at $16.60 yesterday, with a 52 week range of $14.05-$18.79.

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