Piper Sandler initiated coverage of AG Mortgage with an Overweight rating and $9 price target. AG is well positioned to see earnings growth throughout 2024 and 2025 as net interest income trends higher while scale and operating efficiencies show through from the WMC acquisition, the analyst tells investors in a research note. The firm forecasts 130% earnings growth in 2024 and an additional 27% earnings growth in 2025.
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