AG Mortgage upgraded to Neutral from Underperform at Credit Suisse

Credit Suisse analyst Douglas Harter upgraded AG Mortgage to Neutral from Underperform with a $7 price target. The economic return environment is favorable for the agency-focused mREITs given the relatively wide level of spreads and that fact that the downturn in housing is likely to keep credit spreads from meaningfully tightening, said Harter. While he expects shares to trade at a discount to peers, this is already reflected in the current valuation given the discount to book value, Harter said.