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Fly News Breaks for January 31, 2020
CHMI
Jan 31, 2020 | 06:07 EDT
Piper Sandler analyst Kevin Barker initiated coverage of Cherry Hill Mortgage with an Overweight rating and $16.50 price target. A lot of bad news is reflected in shares at a 20% discount to peers on book value, Barker tells investors in a research note. The analyst sees an attractive entry point considering Cherry Hill's portfolio's positioning has improved, the dividend cut "is in the rear view mirror," and the bar for the core earnings run rate has been lowered.
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