Cantor Fitzgerald Starts American Capital Agency (AGNC) at Buy; Active Portfolio Management and Hedging

Cantor Fitzgerald initiates coverage on American Capital Agency (NASDAQ: AGNC) with a Buy. PT $28.50.

Cantor analyst says, "American Capital has had a strong record since the arrival of chief investment officer Gary Kain in January 2009 (total return of 86%)...e expect (a) American Capital's existing investments, (b) its two 1Q:11 equity raises, and (c) a continuation of the current favorable environment (especially a steep yield curve) for Agency mortgage REITs, to enable it to sustain an above-peer ROE through 2011...Accordingly, we believe that American Capital should trade at least in line with peers (as it does currently)."

For more ratings news on American Capital Agency click here and for the rating history of American Capital Agency click here.

Shares of American Capital Agency closed at $28.31 yesterday.

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