DSL: Moors & Cabot Upgrades Shares of Downey Financial (DSL) to a Hold Rating and $57 Price Target Based on Valuation BOSTON, Jan. 18 /PRNewswire/ -- Moors & Cabot upgrades shares of Downey Financial (DSL) to a Hold rating and $57 price target based on valuation. The company's results were strong across the board with Downey beating our earnings estimate on a better-than-expected net interest margin, higher average loan balances, a better-than-expected gain on sale of loans margin, strong real estate income and a negative provision. Although we believe some of these items are nonrecurring in nature, the underlying results are nonetheless stronger than we expected, resulting in our upgrade to a Hold from Sell. Contact: Scott Carmel, 617.314.0287 http://www.moorscabot.com/ About Moors & Cabot Moors & Cabot's financial institution and technology coverage universe reflects the progressive nature of our market economy. Moors & Cabot's financial institution analysts specialize in the bank and thrift sectors. Moors & Cabot's technology analysts focus on accelerated growth companies in rapidly growing industries such as medical technology, biotechnology, semiconductors, wireless equipment and services, computer and business services and computer software. Moors & Cabot is the oldest independent member of the Boston Stock Exchange and one of the nation's oldest independent members of the New York Stock Exchange. In addition to offering its equity and fixed-income research through full-service registered representatives, Moors & Cabot offers investors additional investment tools such as cash management accounts, retirement planning, mutual funds, annuities and professional money management services. With over a century of experience and expertise, Moors & Cabot continues to serve in the tradition of its founding fathers. Our core principles of integrity, honesty, respect and loyalty are as important today as they were more than a hundred years ago. Boston - 800.426.0201 New York - 800.566.9239 Chicago - 800.436.2330 San Francisco - 800.723.2546 Moors & Cabot is a member of the National Association of Securities Dealers, CRD number 594. DATASOURCE: Moors & Cabot CONTACT: Scott Carmel of Moors & Cabot, +1-617-314-0287 Web site: http://www.moorscabot.com/

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