Two Harbors price target raised to $15 from $12.50 at JMP Securities

JMP Securities analyst Trevor Cranston raised the firm’s price target on Two Harbors to $15 from $12.50 and keeps an Outperform rating on the shares. A drop in interest rate volatility that would likely accompany more certainty on Fed policy could be an additional source of upside for the Agency MREIT group in coming months given that nominal spreads remain somewhat wide relative to average levels since 2010, the analyst tells investors in a research note.