Fannie Mae initiated with a Neutral at B. Riley

B. Riley initiated coverage of Fannie Mae (FNMA) with a Neutral rating and $10 price target The firm believes recent comments by Treasury Secretary Scott Bessent as suggesting the government wants to forgive or equitize the Treasury’s senior preferred position of $121B, as it has effectively been repaid over the years, which would minimize the up-front dilution and maximize a government sale of Fannie shares to investors. Riley sees this path leading to a higher-valued stock in the future. I