Keefe, Bruyette & Woods Upgrades American Capital Agency (AGNC) to Outperform
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Keefe, Bruyette & Woods upgrades American Capital Agency (Nasdaq: AGNC) to Outperform. Price target increased from to $22
Keefe analyst says, "Our more positive outlook for the company reflects two factors: 1) our earlier concerns about the external manager have waned as the organizational structure of AGNC has been changed; and 2) the company has built a very attractive portfolio that has been prepaying at below industry averages. Further, we estimate that book value is up in 2Q and we expect earnings to keep trending up."
American Capital Agency Corp. (AGNC) is a real estate investment trust (REIT). AGNC earns income primarily from investing in single-family residential mortgage pass-through securities and collateralized mortgage obligations.
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