Nomura Securities Starts American Capital Agency (AGNC) at Buy; Staying a Few Steps Ahead of the Crowd

Nomura Securities initiates coverage on American Capital Agency (NASDAQ: AGNC) with a Buy. PT $30.00.

Nomura analyst, Bill Carcache, said, "AGNC’s active management style is a competitive advantage, in our view. The company’s investment team continually seeks to create value by adding new assets to the existing portfolio, while ensuring existing holdings continue to meet risk-adjusted return criteria. Our analysis reveals that AGNC shares tend to rise 2.39 times more than either Annaly Capital (NYSE: NLY) or CYS Investments (NYSE: CYS) shares, its competitors. Our FY’12 and FY’13 EPS ests are $5.02 and $5.06, respectively. Our px tgt is based on 1.1x our estimate of year-end 2012 book value. We view the risk/reward profile of AGNC shares as highly attractive."

For an analyst ratings summary and ratings history on American Capital Agency click here. For more ratings news on American Capital Agency click here.

Shares of American Capital Agency closed at $28.74 yesterday.

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