Annaly Capital price target raised to $25 from $22 at JPMorgan

JPMorgan analyst Richard Shane raised the firm’s price target on Annaly Capital (NLY) to $25 from $22 and keeps an Overweight rating on the shares. The firm adjusted targets in the mortgage real estate investment trust group a part of a Q4 preview. The macro environment for REITs remains “mixed but still favorable,” with the U.S. economy showing resilience even as inflation tracks above policy targets, the analyst tells investors in a research note. JPMorgan keeps a “selective and risk-aware stance across the REIT sector.”