Nomura Securities Starts Cypress Sharpridge (CYS) at Neutral; Meaningful Long-Term Value, but Macro Keeps Us Sidelined for Now

Nomura Securities initiates coverage on Cypress Sharpridge (NYSE: CYS) with a Neutral. PT $13.50.

Nomura analyst, Bill Carcache, said, "Although we’re bullish on CYS’s long-term prospects, we’re in no rush to buy shares ahead of the 4Q11 print based on our view that risks are to the downside for spreads, returns and dividends over the near term. Recent completion of its internalization and best-in-class disclosures help to favorably differentiate CYS from some of its competitors. Our FY’12 and FY’13 EPS ests are $1.87 and $2.06, respectively."

For an analyst ratings summary and ratings history on Cypress Sharpridge click here. For more ratings news on Cypress Sharpridge click here.

Shares of Cypress Sharpridge closed at $13.23 yesterday.

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