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Fly News Breaks for May 4, 2016
CIM
May 4, 2016 | 05:50 EDT
Wells Fargo analyst Joel Houck downgraded Chimera Investment to Underperform saying the company's "premium valuation" to peers is unwarranted. The analyst expects the cost advantage of refinancing legacy residential credit deals to come under pressure in 2016 and 2017. He has a $12.25-$13.25 price target range for the shares.
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