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Fly News Breaks for September 18, 2018
PMT
Sep 18, 2018 | 05:45 EDT
Wells Fargo analyst Michael Kaye resumed coverage of PennyMac Mortgage Investment Trust with a Market Perform rating and $20 price target. The stock, after rallying 27% year-to-date, is trading at book value and in-line with peers, Kaye tells investors in a research note. The analyst says he could get more constructive on the shares with better visibility of a sustained uplift in earnings and consistent dividend coverage.
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