Wells Fargo Upgrades Annaly Capital Management (NLY) to Outperform; Bellweather in the Agency REIT Sector

Wells Fargo upgraded Annaly Capital Management (NYSE: NLY) from Market Perform to Outperform with a price target range of $16-$18 (from $17-18).

Wells analyst says, "We consider NLY to be the bellweather in the Agency REIT sector due to (1) having the strongest track record, (2) expertise across a broad range of markets, and (3) our expectation for steady economic returns."

"We are lowering our 2011 EPS estimate to $2.58 from $2.62 and maintaining our 2012 estimate of $2.40. We would note that our estimates do not include securities gains."

For more ratings news on Annaly Capital Management click here and for the rating history of Annaly Capital Management click here.

Shares of Annaly Capital Management closed at $16.32 yesterday.

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