JonesResearch analyst Jason Weaver lowered the firm’s price target on AGNC Investment (AGNC) to $9.50 from $10.25 and keeps a Buy rating on the shares following quarterly results, in-line with the April 10 pre-announced numbers. As the yield curve continues to steepen, the firm expects AGNC to remain disciplined as they deploy capital at historically wide spreads. JonesResearch expects that current portfolio positioning remains supportive of the 12c monthly dividend as the company looks to continue to deploy capital at high-teens expected ROEs while using relatively consistent amounts of leverage.
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