UPDATE: BofA Securities Downgrades Western Asset Mortgage Capital (WMC) to Underperform

September 3, 2020 6:04 AM EDT
Get Alerts WMC Hot Sheet
Price: $2.57 -1.15%

Rating Summary:
    2 Buy, 8 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 72
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(Updated - September 3, 2020 7:00 AM EDT)

(updating comment)

BofA Securities analyst Derek Hewett downgraded Western Asset Mortgage Capital (NYSE: WMC) from Neutral to Underperform, PT $2.00 (from $2.75).

The analyst comments "Though the shares have witnessed significant selling pressure already, economic returns should meaningfully lag peers in the near term, limiting further upside. Specifically, earnings visibility is low, in our view, as WMC rebuilds liquidity and due to commercial credit concerns."

For an analyst ratings summary and ratings history on Western Asset Mortgage Capital click here. For more ratings news on Western Asset Mortgage Capital click here.

Shares of Western Asset Mortgage Capital closed at $2.29 yesterday.


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