AG Mortgage price target raised to $7.50 from $7 at JMP Securities

JMP Securities analyst Trevor Cranston raised the firm’s price target on AG Mortgage to $7.50 from $7 and keeps an Outperform rating on the shares. While the Hybrid MREIT peer group currently trades at a wide range of valuations, AG Mortgage’s valuation could be materially improved by further earnings growth as expense savings are realized and capital is redeployed into higher yielding investments, as well as through continued improvement in results at Arc Home, the analyst tells investors in a research note.