Annaly Capital Management (NYSE:NLY) was downgraded today by Wells Fargo (NYSE:WFC) to market perform from outperform with a price target of $16 to $17. The firm is concerned that Annaly's longer duraction portfolio will be hurt due rising longer term rates.
Shares are lower by nine tenths of a percent.
Clear Channel Outdoor (NYSE:CCO) was downgraded today by Wells Fargo (NYSE:WFC) to market perform from outperform with a price target of $14-15, as the stock price is full valued given the recent dividend announcement.
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