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Annaly Capital Management (NYSE:NLY) was upgraded by equities researchers at Sterne Agee from a “neutral” rating to a “buy” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $12.75 price objective on the stock, up from their previous price objective of $10.25. Sterne Agee’s price target points to a potential upside of 13.23% from the company’s current price.

Annaly Capital Management (NYSE:NLY) traded up 1.68% during mid-day trading on Thursday, hitting $11.449. 2,997,952 shares of the company’s stock traded hands. Annaly Capital Management has a 52 week low of $9.66 and a 52 week high of $12.61. The stock’s 50-day moving average is $11.33 and its 200-day moving average is $11.26. The company has a market cap of $10.848 billion and a price-to-earnings ratio of 4.19.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.03. During the same quarter in the prior year, the company posted $0.40 earnings per share. Analysts expect that Annaly Capital Management will post $1.10 EPS for the current fiscal year.

Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Annaly Capital Management in a research note on Thursday, June 12th. They now have a $12.00 price target on the stock, up previously from $11.50. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $11.90.

Annaly Capital Management, Inc (NYSE:NLY) owns, manage, and finance a portfolio of real estate related investments, including mortgage pass-through certificates, collateralized mortgage obligations (CMOs), Agency callable debentures, and other securities representing interests in or obligations backed by pools of mortgage loans.

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