Fannie Mae-No Politics (FNMA)

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Deutsche Bank's September 2025 ratings
On September 11, 2025, Deutsche Bank issued its first-ever "Buy" recommendations for the government-sponsored enterprises, citing their potential release from government control and a significant rise in their stock prices.
Fannie Mae (FNMA): Initiated with a "Buy" rating and a $20 price target.
Freddie Mac (FMCC): Initiated with a "Buy" rating and a $25 price target.
Basis for upgrade: The bank noted that both firms have become largely de-risked and are generating utility-like returns, though significant dilution could occur during the recapitalization process.