Compass Point Starts Federal Agricultural Mortgage Corp (Farmer Mac) (AGM) at Buy; Golden Harvest Opportunity

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Compass Point initiates coverage on Federal Agricultural Mortgage Corp (Farmer Mac) (NYSE: AGM) with a Buy. PT $41.00.

Analyst, Mike Turner, said, "We believe Farmer Mac’s unique business model, favorable fundamental environment and current valuation make the stock an attractive investment. Currently, the stock is trading at 0.9x book value and 4.9x our FY12E Operating EPS, which we believe is disconnected for a company that has historically earned a mid-teens ROE. We suspect the lack of coverage on the stock may be contributing to the disconnect."

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 $22.38 yesterday, with a 52 week range of $15.69-$23.48.

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