Wells Fargo raised the firm’s price target on AGNC Investment (AGNC) to $12 from $10 and keeps an Overweight rating on the shares. The firm notes the company reported Q4 core EPS of 35c, below its 38c estimate and consensus at 37c. On the call, AGNC noted that it expects the October and December rate cuts to provide a tailwind to net spread and dollar roll income. The outlook for additional Fed rate cuts in 2026 is constructive for agency MBS REIT stocks and BV, Wells argues.
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