Wachovia Starts Hatteras Financial (HTS) at Outperform
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Wachovia initiates coverage on Hatteras Financial (NYSE: HTS) with an Outperform rating and a $30-$33 valuation range.
The firm believes Hatteras has positioned itself "to capitalize on outstanding opportunities in the Agency RMBS sector..." Wachovia sees this sector as being "supported by a steep yield curve, slow mortgage prepayments and a now stabilized financing environment."
Hatteras Financial Corp. operates as an externally-managed mortgage real estate investment trust (REIT).
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