Annaly Capital price target raised to $21 from $18 at JonesResearch

JonesResearch analyst Jason Weaver raised the firm’s price target on Annaly Capital to $21 from $18 and keeps a Buy rating on the shares. The company delivered a 10% economic return for the quarter, reporting earnings available for distribution above consensus expectations, the analyst tells investors in a research note. The firm believes Annaly will add accretive investments “but remain patient for the right opportunity.” The company’s portfolio remains well positioned for the emerging rate backdrop, contends JonesResearch.