Shares of Accredited Home Lenders Holding Co. are set to rise.
The San Diego-based nonprime lender was named to Zacks Investment Research Inc.'s All Star Analyst portfolio, according to an announcement today. The survey was created with Fortune Magazine.
Companies that make the list have "a Strong Buy rating from at least four analysts with a 5-Star All Star ranking," Zacks said. "These are the brokerage analysts whose stock recommendations proved to be the most profitable for investors."
While Accredited reported first quarter originations tumbled from the prior period and net income of $35.8 million was off $7.5 million, Zacks noted per share income increased 18 cents on a year-over-year basis. The research firm said Accredited had a 14% advance from the first quarter of 2005 in net interest income after provision.
Zacks says the All Star portfolio has generated an annualized return of 11.63% since July 2002. Other companies to make the latest list included Starwood Hotels & Resorts Worldwide Inc., United Technologies Corp. and The Walt Disney Co.
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