Merrill Lynch & RBC Capital Initiate Coverage on American Capital Agency (AGNC)

June 24, 2008 8:23 AM EDT

Merrill Lynch initiates coverage on American Capital Agency (Nasdaq: AGNC) with a Buy.

RBC Capital also initiates coverage on American Capital Agency with a Outperform. Price target $32.

American Capital Agency Corp. is a mortgage real estate investment trust (REIT) that invests in agency securities for which the principal and interest payments are guaranteed by a United States Government agency, such as the Government National Mortgage Association (GNMA), a United States Government-sponsored entity, such as the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC).

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• Merrill Lynch
• RBC Capital

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