Fortress Investment initiated with "buy"

03/21/07 - Banc of America

NEW YORK, March 21 (newratings.com) - Analysts at Banc of America Securities initiate coverage of Fortress Investment Group (FIG) with a "buy" rating. The target price is set to $35.

In a research note published this morning, the analysts mention that the company has limited sub-prime exposure from the CTX Home Equity business. There is strong visibility into Fortress Investment earnings, the analysts say. The company’s 2008 dividend yield is expected to be higher than that of its peers, Banc of America Securities adds.