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Fly News Breaks for October 11, 2019
FMCC, FNMA
Oct 11, 2019 | 10:21 EDT
Odeon Capital analyst Dick Bove downgraded the common securities of Fannie Mae (FNMA) and Freddie Mac (FMCC), both to Sell, given that he believes the legal, legislative and administrative outlook for the Government Sponsored Entities remains "very cloudy" and because the "estimated secular growth rate of the businesses cannot be determined." However, he still believes that holding the preferred issues in these companies "makes sense," Bove tells investors.
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