BofA analyst Derek Hewett downgraded Angel Oak Mortgage to Underperform from Buy with a price target of $6.50, down from $15.50. The company remains well positioned in the non-qualified mortgage market thanks to its vertically integrated platform but also continues to face near-term headwinds around heightened volatility in fixed income and securitization markets, the analyst tells investors in a research note. Angel Oak Mortgage shares have "meaningfully" underperformed peers, but earnings visibility is low and risk is skewed to the downside, Hewett adds.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on AOMR:
