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Why AGNC Investment Stock Was a Winner on Wednesday

TheMotleyFool

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AGNC Investment (NASDAQ: AGNC) stock did a fine job of getting over the hump of Hump Day. Shares of the mortgage real estate investment trust (mREIT) closed Wednesday more than 2% higher, trouncing the marginal rise of the S&P 500 index, thanks largely to an analyst's recommendation upgrade.

Well before market open that day, JPMorgan Chase's Richard Shane tagged AGNC with an overweight, in other words buy, at a price target of $12.50 per share. He previously had it pegged at neutral.

Shane's upgrade comes at a time when "headwinds from rising rates begin to abate," he said.

Source Fool.com

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