Wells Fargo analyst Donald Fandetti raised the firm’s price target on Angel Oak Mortgage REIT to $10 from $9 and keeps an Overweight rating on the shares following quarterly results. The firm notes Q4 Book value up +10.4% quarter-over-quarter at $10.26, but fell a bit thus far in Q1. Net interest income rose quarter-over-quarter and new loans are 8%+ coupon. Easing of Fed policy in 2024 should improve earnings from lower financing costs and improved securitization execution, Wells adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AOMR: