Invesco Mortgage price target lowered to $11 from $12 at Barclays
The Fly

Invesco Mortgage price target lowered to $11 from $12 at Barclays

Barclays analyst Mark DeVries lowered the firm’s price target on Invesco Mortgage to $11 from $12 and keeps an Underweight rating on the shares. Non-banks face significant origination headwinds partially offset by strength in servicing, the analyst tells investors in a research note. Title insurers are dealing with similar challenges in residential and commercial may "start to crack," says the firm. It also believes mortgage real estate investment trusts saw another quarter of significant spread volatility, leading to book value pressure after positive commentary in the Q4 results. Barclays sees "headwinds across the board" for consumer finance names heading into the Q1 reports.

Published first on TheFly

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