Ellington Credit price target lowered to $5.50 from $6 at Piper Sandler

Piper Sandler analyst Crispin Love lowered the firm’s price target on Ellington Credit (EARN) to $5.50 from $6 and keeps an Overweight rating on the shares. The firm notes core EPS missed estimates. Management also commented that the challenging CLO equity and mezzanine debt backdrop has persisted into 2026, but Ellington Credit increased its credit hedges ahead of spread widening and believes there is room to take advantage of market dislocations.