Wedbush analysts downgrade Fannie Mae to Neutral and keep Freddie Mac Outperform
Updated
Updated · Barron's · May 1
Wedbush analysts downgrade Fannie Mae to Neutral and keep Freddie Mac Outperform
10 articles · Updated · Barron's · May 1
The note said momentum for an IPO or recap-and-release appears stalled until after the midterms, with Fannie Mae at $8.18 above Wedbush's $8 target.
Fannie Mae posted $4.66 billion pretax income, below Wedbush's $4.8 billion estimate, while Freddie Mac earned $4.4 billion, beating a $3.6 billion forecast and lifting net worth to $73.9 billion.
Both mortgage-finance groups remain in government conservatorship despite efficiency gains and capital growth; their shares are down 23% and 29% this year, and FHFA director Bill Pulte highlighted Fannie Mae's $112.7 billion net worth.
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