Federal Agricultural price target lowered to $233 from $240 at Seaport Research

Seaport Research analyst Bill Ryan lowered the firm’s price target on Federal Agricultural Mortgage to $233 from $240 and keeps a Buy rating on the shares. The company recently reported Q2 results, with business volume growing at a slower rate than expected due to scheduled maturities and repayments in the agricultural finance line of business, the analyst tells investors. The firm believes the company will need to exhibit more steady business volume growth in order to achieve its valuation potential.