MFA Financial upgraded to Outperform from Neutral at Credit Suisse

Credit Suisse analyst Douglas Harter upgraded MFA Financial to Outperform from Neutral with a $12.50 price target, citing what he sees as an attractive risk-adjusted return potential given the current valuation is only 67% of current book value. 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.