Nomura Securities Downgrades Hatteras Financial (HTS) to Neutral

Nomura Securities downgraded Hatteras Financial (NYSE: HTS) from Buy to Neutral with a price target of $16.00 (from $19.00) on changed macro and weaker results.

Analyst Brock Vandervliet commented, "Our Buy rating was predicated on several macro factors that are no longer present. In addition, company-specific factors, including lower earnings power and continued resistance to buying back stock aggressively, contribute to the decision to reduce our investment rating. Finally, we had expected HTS’s book value performance to be superior to peers but it has not been."

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 $14.09 yesterday.

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