RBC Capital analyst Kenneth Lee raised the firm’s price target on AGNC Investment (AGNC) to $13 from $11 and keeps an Outperform rating on the shares. The company reported strong economic returns of 11.6% in Q4 as MBS spreads tightened, the analyst tells investors in a research note. AGNC portfolio returns are still supportive of common dividends, though expected returns are slightly lower than the cost of capital, RBC added.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AGNC:
- AGNC Investment cut to Market Perform at Keefe Bruyette on valuation
- AGNC Investment downgraded to Market Perform from Outperform at Keefe Bruyette
- AGNC Investment price target raised to $12 from $10 at Wells Fargo
- AGNC Investment Corp: Solid Fundamentals and MBS Tailwinds, But Limited Upside Justify a Hold Rating
- AGNC Investment Corp. Earnings: Strong Year, Cautious Path