First Niagara (FNFG) has a 20% upside following its sale of MBS, with proceeds used to pay off...

|About: First Niagara Financial ... (FNFG)|By:, SA News Editor

First Niagara (FNFG) has a 20% upside following its sale of MBS, with proceeds used to pay off debt, says Jefferies. The bank CFO says the sale positions the lender to benefit when interest rates "ultimately rise" (what if they don't?). Some of the hoped for 20% may have already been realized as the shares rose 5.7% yesterday ahead of the news.