BTIG analyst Eric Hagen upgraded Annaly Capital (NLY) to Buy from Neutral with a $25 price target The firm remains “constructive” on the opportunity in agency mortgage real estate investment trusts, citing support for dividends if interest rate volatility remains this low. BTIG now sees “a little more upside” in Annaly Capital versus AGNC if spreads “grind tighter.” BTIG upgraded Annaly Capital and downgraded AGNC.
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