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Bold Analyst Cuts Price Target On IndyMac

One day after IndyMac, the largest independent home lender in the United States, announced it would cease making new loans, was not considered well-capitalized by regulators, had no bidders for its assets and would fire about half its workforce, an analyst at Friedman, Billings, Ramsey & Co. cut his price target on the company. Keen market insight there.
IndyMac Bancorp shares dip; analyst sets $0 target [Associated Press]