- JPMorgan initiates coverage on two mREITs, starting Two Harbors (TWO) at a Buy with $10.50 price target and American Capital Agency (AGNC) at Hold with $22 price target.
- Two Harbors, of course, invests in a wider variety of assets and has a good deal of exposure to credit, rather than rates. American Capital, on the other hand, is strictly an agency MBS player.
- AGNC is off 2.5% premarket, but it's just one trade for 102 shares.
American Capital and Two Harbors coverage started at JPMorgan
Sep 26 2013, 07:54 ET