Annaly Capital price target lowered to $23 from $25 at JPMorgan

JPMorgan lowered the firm’s price target on Annaly Capital (NLY) to $23 from $25 and keeps an Overweight rating on the shares. The firm adjusted targets in the mortgage real estate investment trust group as part of a Q1 preview. The macroeconomic environment “remains volatile and unpredictable,” the analyst tells investors in a research note. JPMorgan says higher rates “are more of a persistent headwind than a new challenge” at this point.