MFA Financial just upgraded at Keefe Bruyette, here’s why

Keefe Bruyette analyst Bose George upgraded MFA Financial to Outperform from Market Perform with a price target of $12, up from $11.25. The analyst cites valuation for the upgrade. Heading into 2024, the mortgage real estate investment trusts look better positioned than they have been for the past 18 months, the analyst tells investors in a research note. The firm says the Federal Reserve raising cycle appears to be done while home prices will remain relatively stable and the the economic downturn next year will only be modest.