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Fly News Breaks for June 15, 2018
CIM
Jun 15, 2018 | 06:37 EDT
RBC Capital analyst Jason Arnold initiated Chimera with an Outperform rating and a price target of $20, saying the stock offers an "attractive" opportunity for gains of as much as 20%. Arnold notes that while interest and credit risk elements are present, they are more contained relative to peers, while the valuation of 1.1-times the book value is also "appealing". Based on the company's credit focused investment portfolio and modest leverage, the analyst expects Chimera to continue performing well in the rising interest rate environment.
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