Western Asset Mortgage (WMC) is downgraded to Hold with $22 price target at Jefferies. Noting...

|About: Western Asset Mortgage C... (WMC)|By:, SA News Editor

Western Asset Mortgage (WMC) is downgraded to Hold with $22 price target at Jefferies. Noting the 34% return (price and dividend) since the May IPO, Jefferies says the stock is fully valued considering its belief rates are likely to rise over the next 12 months.