Dynex Capital upgraded to Outperform from Neutral at Credit Suisse

Credit Suisse analyst Douglas Harter upgraded Dynex Capital to Outperform from Neutral with a price target of $15.50, up from $13.50. 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, who views Dynex as "the most attractive among the agency-focused mREITs to capture potential tightening of MBS spreads."