Jefferies & Company Reports on Chimera Investment Corp

Jefferies & Company commented on Chimera Investment Corp CIM in a report released today. In the report, Jefferies was mixed in its assessment of the company. Jefferies writes, "Cash flows improved during the month, with an increase in principal cash flows offsetting a slight decrease in interest cash flows. QTD subordinate losses are running at approximately 90% of the 1Q11 QTD comp. Despite improving Y/ Y delinquency performance, a recent upturn in early stage delinquencies was witnessed. These early stage buckets will be the most important delinquency data points for us over the next several months." Jefferies currently has a Hold rating on CIM and a price target of $3.80. Shares of CIM closed at $3.58 on Thursday.