Wells Fargo's analyst Donald Fandetti has revised the price target for AGNC Investment Corp. (AGNC, Financial), reducing it from $11 to $10. This adjustment comes in light of an uncertain outlook for interest rates, although the shares continue to hold an Overweight rating after the company's recent quarterly earnings.
Despite the adjusted price target, Wells Fargo identifies a compelling risk/reward proposition for AGNC, notably highlighted by an attractive dividend yield of 17%. The firm remains optimistic about the investment, given the current potential returns, despite ongoing volatility in agency mortgage-backed securities (MBS) spreads. Wells Fargo anticipates that once this volatility stabilizes, AGNC's investment prospects will further improve.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for AGNC Investment Corp (AGNC, Financial) is $9.60 with a high estimate of $11.00 and a low estimate of $8.25. The average target implies an upside of 13.66% from the current price of $8.45. More detailed estimate data can be found on the AGNC Investment Corp (AGNC) Forecast page.
Based on the consensus recommendation from 15 brokerage firms, AGNC Investment Corp's (AGNC, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
