Wells Fargo Starts Chimera Investment Corp (CIM) at Market Perform; Mixed Bag

June 7, 2012 7:34 AM EDT Send to a Friend
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Price: $3.09 -0.32%

Rating Summary:
    1 Buy, 8 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 28 | New: 20
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Wells Fargo initiates coverage on Chimera Investment Corp (NYSE: CIM) with a Market Perform. PT rangte $2-3.

Analyst, Joel Houck, said, "Our Market Perform rating is based on (1) CIM’s seasoned management team, (2) weak financial reporting, and (3) match funding of its nonagency portfolio. We believe CIM can be a constructive story in a stronger economic environment; however, we are concerned with the continued delay in financial reporting and potential pressures on nonagency mortgage pricing in a weaker H2 2012 economy. We are establishing 2011, 2012, and 2013 EPS estimates of $0.51, $0.61, and $0.63, respectively."

For an analyst ratings summary and ratings history on Chimera Investment Corp click here. For more ratings news on Chimera Investment Corp click here.

Shares of Chimera Investment Corp closed at $2.81 yesterday.


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