UPDATE: Sterne Agee Downgrades Chimera Investment to Underperform

Loading...
Loading...
Sterne Agee is out with its report today on Chimera Investment
CIM
, downgrading CIM from Neutral to Outperform. In its report, Sterne Agee writes, "We are reducing our rating on Chimera Investment Corp from NEUTRAL to UNDERPERFORM in light of its high credit exposure in an increasingly uncertain economic environment as well as valuation versus peers. While the shares have already seen a 34% decline from the 10/2010 high of $4.36, our estimates imply that they may exhibit further underperformance in the near term." Sterne Agee has a $2.65 PT on CIM. At the time of posting, shares of CIM were trading at $2.95, down 1.01% from Thursday's close.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesAnalyst RatingsSterne Agee
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...