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Fly News Breaks for June 21, 2019
AGNC, NLY
Jun 21, 2019 | 06:28 EDT
UBS analyst Brock Vandervliet initiated Annaly Capital (NLY) with a Buy rating and a price target of $9.50 as part of his broader research note starting coverage on U.S. Mortgage Finance companies. The analyst is positive on the 10%-12% dividend yields in the sector, adding that Annaly Capital is among the select opportunities to generate earnings growth. Vandervliet cites the impact of three expected Fed rate cuts by the middle of next year lowering funding costs while also creating book value stability from low interest rate volatility. As part of his research note, Vandervliet also initiated AGNC Investment (AGNC) with a Neutral rating and a price target of $16.50.
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