Annaly Capital price target raised to $23 from $21 at RBC Capital

RBC Capital analyst Kenneth Lee raised the firm’s price target on Annaly Capital (NLY) to $23 from $21 and keeps an Outperform rating on the shares. The macro outlook for a potentially steeper yield curve could be a positive for Annaly, and the firm favors the company’s well-diversified capital allocation, including its Mortgage Servicing Rights portfolio, and strong liquidity position, the analyst tells investors in a research note.