Keefe, Bruyette & Woods Cuts Freddie Mac (OTCMKTS:FMCC) Price Target to $8.50

Freddie Mac (OTCMKTS:FMCC) had its target price cut by Keefe, Bruyette & Woods from $9.00 to $8.50 in a research note released on Monday,Benzinga reports. They currently have an underperform rating on the stock.

Separately, BTIG Research initiated coverage on shares of Freddie Mac in a report on Monday, January 26th. They set a “buy” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Freddie Mac Stock Performance

Shares of OTCMKTS FMCC opened at $6.63 on Monday. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -331.50 and a beta of 1.79. The stock has a 50 day moving average price of $6.12 and a 200 day moving average price of $8.38. Freddie Mac has a 52-week low of $3.40 and a 52-week high of $14.99.

About Freddie Mac

Freddie Mac (OTCMKTS:FMCC), officially the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise chartered by Congress in 1970 to enhance liquidity and stability in the U.S. housing finance system. Headquartered in McLean, Virginia, the company operates under the supervision of the Federal Housing Finance Agency (FHFA) and carries a congressional mandate to support affordable, sustainable homeownership and rental housing markets nationwide.

The company’s primary business activities involve purchasing mortgage loans from approved lenders, pooling them into mortgage-backed securities (MBS), and guaranteeing the timely payment of principal and interest to investors.