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Bold Analyst Cuts Price Target On IndyMac

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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]