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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (388)	1/4/2002 1:26:45 PM
From: Dave Gore	Read Replies (1) \| Respond to of 16631

STOCK BUY: FNM @$78.84. PE=15, 15% growth, "seriously undervalued" per Lehman on Briefing today. Since the stocks have not run and the fundamentals looks solid, I agree with Lehman. Good Reward/low risk, imho. I looked at FNM and FRE and FNM has the better money flow and accumulation, but both look undervalued almost equally especially when growth is taken into account. TARGET $83/84 near/intermediate term. 13:00 -- 14:00 ET (Updated throughout the hour) Lehman on FNM/FRE : -- Before Open -- Lehman Brothers believes FNM and FRE are "seriously undervalued" and should deliver solid earnings growth in the low-to-mid teens in 2002 and 2003; firm reiterates their Strong Buy rating on both companies. Firm believes FNM and FRE should benefit from the market environment (i.e. expected Fed tightening, credit costs, mortgage portfolio growth, and market shares) and should exceed their current 2002 EPS growth estimates of 15%.