Jefferies Reiterates Hold Rating, $2.60 PT on Chimera Investment Corporation

In a report published Wednesday, Jefferies & Company reiterated its Hold rating and $2.60 price target on Chimera Investment Corporation

. Jefferies noted, “JEF Credit Run results showed higher subordinate losses on CIM's re-REMIC portfolio and a 26bps decline in total cash yield on the reREMIC structures. With the company yet to file their 2011 full-year and 1Q12 results, we remain cautious on the name.” Chimera Investment Corporation closed on Tuesday at $2.33.