Noted bank analyst Dick Bove of Rafferty Capital Markets thinks Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) can rise to $18 per share.
Speaking on Fox Business with Charlie Gasparino, Bove’s logic is that the company is currently earning $1.60 per share. With a ten to twelve times earnings multiple applied to the stock, Bove thinks it could easily trade near $18 per share with one major caveat: The US Government needs to return the stock back to shareholders.
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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