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Jefferies Downgrades Western Asset Mortgage Capital (WMC) to Hold on Valuation

April 5, 2013 7:03 AM EDT Send to a Friend
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Price: $13.60 --0%

Rating Summary:
    2 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 15 | New: 11
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Jefferies downgraded Western Asset Mortgage Capital (NYSE: WMC) from Buy to Hold with a price target of $22.00.

"Since WMC's IPO in May 2012, the stock has generated a total return of approximately 34%, which includes dividends and share price appreciation. With the shares trading over our price target and our outlook that rates are likely to increase over the next 12-months (pressuring Agency asset prices in the process), we are downgrading the shares to Hold," said analyst Daniel Furtado.

For an analyst ratings summary and ratings history on Western Asset Mortgage Capital (NYSE: WMC) click here. For more ratings news on Western Asset Mortgage Capital click here.

Shares of Western Asset Mortgage Capital closed at $23.52 yesterday.




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