Fannie Mae-No Politics (FNMA)

[europegoodold]

Ratings by KBW are the worst as history has proven

March 20, 2008 the rating agency Keefe Bruyette & Woods (KBW) gave Fannie’s and Freddie’s common stock an upgrade to “outperform”: "Keefe Bruyette & Woods upgrades Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) to Outperform, citing recent government actions that had led to increased expectations. The firm boosts its price target on Fannie Mae and Freddie Mac to $48 and $46, respectively. Keefe Bruyette expects both Fannie Mae and Freddie Mac to be ‘an active participant in stabilizing the mortgage markets.’ The firm raised its EPS estimates on Fannie Mae in FY08 to ($1.06) and in FY09 to $1.11, versus the Street estimates of ($0.20) and $2.31, respectively. Keefe Bruyette boosts its EPS estimates on Freddie Mac in FY08 to ($1.50) and in FY09 to $2.20. The Street is currently expecting ($1.21) and $1.79, respectively."

http://www.streetinsider.com/Upgrades/Keefe+Bruyette+Upgrades+Fannie+Mae+and+Freddie+Mac+to+Outperform+(FNM,+FRE)/3476191.html

And they never apologized...