MFA Financial initiated with a Buy at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage of MFA Financial (MFA) with a Buy rating and $14 price target The firm is positive on the company’s position as a leader in the mortgage sector with a diversified investment portfolio and the capacity and flexibility to invest across the mortgage market. Janney adds that MFA shares are trading at a steep discount to current book value per share while forecast mid-single-digit growth in book value per share and multiple expansion toward economic book value.