Deutsche Bank Downgrades Annaly Capital Management (NLY) to Hold

Earlier, Deutsche Bank downgraded Annaly Capital Management (NYSE: NLY) from Buy to Hold with a price target of $15.25 (from $17.50).

The firm comments, "While we continue to believe the sector is attractive given current P/BV multiples vs. our 2013 ROE estimates, we are lowering our ratings on NLY, HTS, and MFA to Hold from Buy given our portfolio return expectations relative to peers. Additionally, we are refining our estimates for the sector and updating our price targets based on our updated BV estimates."

For an analyst ratings summary and ratings history on Annaly Capital Management click here. For more ratings news on Annaly Capital Management click here.

Shares of Annaly Capital Management closed at $14.42 yesterday.

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