Annaly Capital Management’s latest price target revision, including a slightly higher fair value estimate of about $22.18 and a modestly lower discount rate of roughly 9.17%, reflects growing confidence in the company’s earnings power as mortgage markets become more supportive. Analysts also see the small uptick in expected revenue growth to nearly 30.88% as evidence of a cautiously improving outlook for the business. Stay tuned to see how you can track these evolving assumptions and the shifting narrative around Annaly’s valuation over time.

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🐂 Bullish Takeaways

• Piper Sandler lifted its price target to $22.50 from $21.50 and reiterated an Overweight rating, signaling increased conviction that Annaly can capitalize on a healthier mortgage backdrop to support its valuation.

• Piper Sandler points to improving industry dynamics, with 30-year mortgage rates easing to 6.3% from above 7% earlier in the year and agency spreads tightening, which they see as supportive for Annaly’s earnings power and book value stability.

• Stronger refinancing activity, reflected in a reported 38% sequential increase in mortgage applications, is viewed by Piper Sandler as an early sign of returning volume that could reinforce Annaly’s growth momentum if trends persist.

• Keefe Bruyette’s analyst Bose George also raised the firm’s price target to $22.50 from $21.50 while maintaining an Outperform rating, underscoring broad bullish alignment around upside to fair value as execution benefits from a more constructive rate and spread environment.

🐻 Bearish Takeaways

• Piper Sandler cautions that the mortgage market is still not at a fully normalized level, implying that some upside may already be reflected in Annaly’s higher $22.50 targets and that near-term volatility in rates or spreads could challenge the durability of recent positive trends.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives or begin writing your own Narrative!

• Annaly Capital Management, Inc. was removed as a constituent from the FTSE All World Index (USD), a change that could influence index fund ownership levels and day to day trading liquidity for the stock.

• The company disclosed that it repurchased 0 shares between Jul. 1, 2025 and Sep. 30, 2025, leaving its existing share buyback authorization unused during the latest reported quarter.

• Analysts are watching the FTSE index removal closely, noting that any forced selling by passive funds could create short term price pressure. This may also open the door for active investors seeking income focused exposure.