Fly News Breaks for July 29, 2019
Jul 29, 2019 | 06:34 EDT
JMP Securities analyst Mikhail Goberman upgraded Ellington Residential to Outperform with a price target of $12.50 ahead of its Q2 earnings this week. The analyst cites the update of his valuation model to reflect the recent "dramatic" decline in interest rates, which should provide a "substantial boost" to the REIT's core earnings in 2020 as the company realizes a "meaningfully lower cost of funds."
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