RBC Capital analyst Kenneth Lee lowered the firm’s price target on Annaly Capital (NLY) to $21 from $22 and keeps an Outperform rating on the shares. The firm is updating its model after the company’s Q1 results, though positively, it also cites having more visibility and confidence into common dividends, the analyst tells investors in a research note. RBC adds it is positive on Annaly’s well-diversified capital allocation, including its MSR portfolio, and strong liquidity position.
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