Fannie Mae is trading at $4.55, up 11.52%, amid financial-sector strength following the Fed’s October 28 rate hold.
- Its October 28 third-quarter report showed $4.2 billion in net income; revenue and earnings exceeded estimates.
- Reuters also reported investors were digesting the pause.
- B. Riley lowered its price target to $4.50 but maintained a Buy rating; that action does not clearly explain the gain.