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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who wrote (412)	3/5/2002 9:27:38 AM
From: NCKEV	of 787

RESEARCH ALERT-Salomon starts Fannie Mae, Freddie Mac NEW YORK, March 4 (Reuters) - Salomon Smith Barney on Monday said it started coverage of leading U.S. mortgage funding companies Freddie Mac <FRE.N> and Fannie Mae <FNM.N> with "buy" ratings. "We believe 7% to 8% annual mortgage market growth remains, and that Fannie Mae and Freddie Mac are poised to continue their above-market growth rates," analyst Matthew Vetto said in a research note. Vetto said the firms' recent share price weakness has been driven by worries of political risk and accounting questions, providing "an attractive entry point" in the stock. Shares of Freddie Mac, the No. 2 mortgate funding behind rival Fannie Mae, gained 17 cents to $64.85 in morning New York Stock Exchange. Fannie Mae stock lost a penny to $79.48. 12:00 03-04-02

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