Jefferies Downgrades Chimera Investment Corp (CIM) to Hold

Jefferies downgraded Chimera Investment Corp (NYSE: CIM) from Buy to Hold and lowers their price target form $4.50 to $3.80.

The firm states, "Our downgrade is based on our expectation for additional headwinds in CIM's business, both fundamental and optical. Considering the overhangs of the run-off of the re-REMIC portfolio, increasing realized losses, and a slowdown in foreclosure activity, we expect shares to remain in a holding pattern until CIM is able to capitalize on opportunities in the new issue market."

For more ratings news on Chimera Investment Corp click here and for the rating history of Chimera Investment Corp click here.

Shares of Chimera Investment Corp closed at $3.94 yesterday.

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