Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

CFC Jammed as BofA says business goin' south! (TRUE)

Bank of America initiates Countrywide at a "neutral"
Tuesday July 19, 12:04 pm ET
By Steve Gelsi
http://biz.yahoo.com/cbsmb/050719/5659db4ce6ba46c79ccf201bed33c33e.html?.v=1

NEW YORK (MarketWatch) -- Bank of America analysts on Tuesday assigned a neutral rating to Countrywide Financial and set a price target of $39 a share as part of an overall initiation of the mortgage industry. Golden West Financial drew a buy rating and IndyMac Bancorp got a buy rating and a $47 price target. Washington Mutual was assigned a neutral rating and a $41 price target. Analysts at Bank of America said they see mortgage originations facing further declines and that the current housing market is unsustainable. Meanwhile, Fannie Mae and Freddie Mac are facing regulatory uncertainty, analysts said.