Deutsche Bank Upgrades Hatteras Financial (HTS) to Buy; New Capital and Attractive Valuation

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March 28, 2012 7:05 AM EDT
Get Alerts HTS Hot Sheet
Price: $16.29 --0%

Rating Summary:
    4 Buy, 11 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Deutsche Bank upgraded Hatteras Financial (NYSE: HTS) to Buy, maintains price target of $31.00.

Deutsche analyst said, "Earlier this week, Hatteras priced a secondary offering, raising gross proceeds of roughly $475 million. We believe the new capital will be deployed at spreads accretive to the portfolio and are raising our 2012 and 2013 estimates. Given the attractive returns on the new capital as well as shares trading at a roughly 2% premium to our pro forma book value estimate, we are upgrading shares."

For an analyst ratings summary and ratings history on Hatteras Financial click here. For more ratings news on Hatteras Financial click here.

Shares of Hatteras Financial closed at $27.37 yesterday.

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