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FNM Fed Natl Mtge Ass

2.44
0.00 (0.00%)
06:50:29 - Realtime Data
Share Name Share Symbol Market Type
Fed Natl Mtge Ass TG:FNM Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.44 3.00 3.20 0.00 06:50:29

KBW Cuts Fannie, Freddie To Underperform, Price Targets To Zero

19/10/2009 1:48pm

Dow Jones News


Fed Natl Mtge (TG:FNM)
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Analysts at Keefe, Bruyette & Woods on Monday downgraded shares of Fannie Mae (FNM) and Freddie Mac (FRE) to underperform from market perform and cut their price target on both stocks to zero. "In order for the government-sponsored entities to survive going forward, we believe they need to be recapitalized through investments from the banks that benefit from their role in the secondary market," KBW wrote in a research note. "In this scenario, both the common and preferred equity of the GSEs should be worthless," they said, adding that since being put into receivership last summer, the U.S. has put $98 billion of capital into Fannie and Freddie. Fannie recently fell 1.4% premarket to $1.44, and Freddie was off 1.7% to $1.69.

-John Spence; 415-439-6400; AskNewswires@dowjones.com

 
 

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