Regions

CYS rating downgraded, industry outlook bleak

July 11
9:37 AM 2013

The Bank of America downgraded CYS Investments to an "underperform" rating from a previous "neutral" classification in a research note released today.

This comes as many other similar investment firms posted underwhelming results in the past quarter. Alarms sparked on the industry's general underperformance. Analysts say that the recent change in the future outlook may be causing this trend.

CYS Investments shares opened at 8.27 today. The firm suffered a one-year low of US$8.09 and a one-year high of only US$15.03.

Analysts at Wunderlich performed a downgrade on its shares on CYS Investments, changing a previous "buy" rating to a "hold", according to a research note to its investors this Monday. Citigrooup also downgraded the company's shares from "hold" to "underweight." The series of downgrading continued early this week when Barclays Capital almost changed its "equal weight" rating of its CYS shares.

CYS Investments is a specialty finance company.

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