Freddie Mac (OTCMKTS:FMCC – Free Report) had its target price cut by Keefe, Bruyette & Woods from $6.50 to $3.50 in a research note released on Monday morning,Benzinga reports. They currently have an underperform rating on the stock.
Several other analysts have also commented on the stock. Wedbush began coverage on shares of Freddie Mac in a research report on Friday, July 31st. They set an “outperform” rating and a $12.00 price target on the stock. BTIG Research lowered Freddie Mac from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Freddie Mac presently has a consensus rating of “Hold” and an average price target of $11.12.
View Our Latest Stock Analysis on Freddie Mac
Freddie Mac Trading Up 2.9%
Freddie Mac Company Profile
Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation, is a U.S. government-sponsored enterprise that supports liquidity, stability and affordability in the residential mortgage market. The company operates in the secondary mortgage market, purchasing qualifying mortgage loans from approved lenders and providing lenders with funds that can be used to make additional home loans.
Freddie Mac finances these activities primarily by pooling mortgages into mortgage-backed securities, including its mortgage participation certificates, and guaranteeing the timely payment of principal and interest to investors.
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