Jefferies Maintains Hold, $3 PT on Chimera Investment

Jefferies reiterates its Hold rating and $3 price target on Chimera Investment Corporation (NYSE: CIM) as the company failed to meet 10-Q deadline.

According to Jefferies, “CIM failed to file their 10Q by the filing deadline, November 9, 2011. As expected, the Company filed form 12b-25 on November 10, 2011, to provide a general explanation for why they missed the deadline. On November 14, 2011, CIM filed a press release noting their 10Q would be filed as soon as practicable and disclosed a GAAP book value of $3.27 and an economic book value of $3.01.”

CIM closed at 2.55 on Monday.