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Two Harbors upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Jessica Levi-Ribner upgraded Two Harbors to Buy.
Two Harbors downgraded at Wells Fargo
As noted earlier, Wells Fargo downgraded Two Harbors to Market Perform from Outperform. The firm downgraded the stock based on valuation and the increased probability of the Fed lowering its balance sheet this year.
On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wix.com (WIX) downgraded to Neutral from Overweight at Cantor with analyst Naved Khan citing limited upside potential with the stock up 70% year-to-date. The analyst believes the company's underlying fundamentals remain strong, however. He raised his price target for the shares to $80 from $65. 2. Sunoco (SUN) downgraded to Neutral from Buy at UBS with analyst Shneur Gershuni citing uncertainties around the company's new strategic direction following its asset sale announcement. 3. AGNC Investment (AGNC), CYS Investments (CYS), and Two Harbors (TWO) were downgraded to Market Perform from Outperform at Wells Fargo. 4. ABB (ABB) downgraded to Sell from Neutral at UBS. 5. OncoMed (OMED) downgraded to Market Perform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
Two Harbors reinstated with an Outperform at Credit Suisse
Credit Suisse analyst Douglas Harter reinstated coverage of Two Harbors (TWO) with an Outperform rating and a $10.50 price target following the completion of the Granite Point Mortgage (GPMT) IPO. While some of the valuation gap to peers has narrowed, the analyst continues to see Two Harbors as a "core holding" among the mREITs given the company's history of "strong" risk management, as well as "strong returns" as highlighted by the three dividend increases in the past three quarters.
On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Pandora (P) resumed with an Overweight at Morgan Stanley. 2. Two Harbors (TWO) reinstated with an Outperform at Credit Suisse. 3. Alcentra Capital (ABDC) initiated with a Buy at DA Davidson. 4. Alon USA Partners (ALDW) reinstated with an Equal Weight at Barclays. 5. Delek US (DK) and Delek Logistics (DKL) were reinstated with an Equal Weight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage,
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