this is one from Nov 5 where they raised target to 8.50
In a report published Monday, Deutsche Bank reiterated its Buy rating on ARMOUR Residential REIT (NYSE: ARR [FREE Stock Trend Analysis]), and slightly raised its price target from $8.00 to $8.50.
Deutsche Bank noted, “3Q BV increases 10%; Maintain estimates; Increasing target to $8.50 - While 3Q core EPS was a little below our estimate due to lower leverage, spreads were wider than we expected and BV increased over 10% to $7.77 per share. While prepays are likely to remain elevated near-term, we expect earnings to benefit from slowing prepays in 2013. With shares trading at a roughly 8% discount to 9/30 BV and given our portfolio return estimates, we are reiterating our Buy rating. We are increasing our target to $8.50 per share.”