Two Harbors price target raised to $16 from $5 at Barclays

Barclays analyst Mark DeVries raised the firm’s price target on Two Harbors to $16 from $5 and keeps an Equal Weight rating on the shares post the Q3 results. After dramatic spread widening in recent months, Two Harbors gave the market fresh evidence that the worst could be behind the agency mortgage real estate investment trusts, DeVries tells investors in a research note. He says the company’s book value is bouncing back.