Pershing sees 'substantial' share appreciation for Fannie, Freddie In its annual investor update, Bill Ackman's Pershing Square said it believes Fannie Mae (FNMA) and Freddie Mac (FMCC) "are firmly on a path towards exiting conservatorship." Several important catalysts are on the horizon prior to the election, the firm said in a presentation. Pershing expects "substantial additional share price appreciation as key steps are taken towards ending the conservatorships." FNMA FMCC
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