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Upgrade Alert for Invesco Mortgage Capital (IVR)

By James Quinn

Invesco Mortgage Capital (NYSE:IVR) was upgraded from Underperform to Market Perform at Wells Fargo today. The stock closed yesterday at $13.79 on volume of 1.6 million shares, above average daily volume of 1.0 million.

Invesco Mortgage Capital share prices have moved between a 52-week high of $16.13 and a 52-week low of $9.74 and closed yesterday at 42% above that low price at $13.79 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.4%.

Potential upside of 10.0% exists for Invesco Mortgage Capital, based on a current level of $13.79 and analysts' average consensus price target of $15.17. The stock should find initial support at its 200-day moving average (MA) of $12.57 and further support at its 50-day MA of $12.26.

Invesco Mortgage Capital invests in mortgage-backed securities for which a United States government agency guarantees payments of principal and interest. The Company also invests in non-agency residential mortgage-backed securities, commercial mortgage-backed securities, and residential and commercial loans.

SmarTrend recommended that subscribers consider buying shares of Invesco Mortgage Capital on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.37. Since that recommendation, shares of Invesco Mortgage Capital have risen 19.3%. We continue to monitor IVR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades invesco mortgage capital

Ticker(s): IVR