Dynex Capital price target raised to $16 from $15 at BTIG

BTIG raised the firm’s price target on Dynex Capital (DX) to $16 from $15 and keeps a Buy rating on the shares. The firm’s price target hike reflects its bullish outlook for earnings and stock valuation on both absolute and relative basis, the analyst tells investors in a research note. BTIG adds that while it sees lower interest rate volatility and tighter MBS spreads being broadly supportive of mortgage finance stocks, it also picks Dynex as having the tightest control over its leverage and liquidity.