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Novation Companies, Inc. Message Board

  • chartwiz987 chartwiz987 Aug 14, 2007 10:26 AM Flag

    ANALYSTS►ReiterstesZERO PriceTarget on NFI

    Aug 10, 2007
    He is sticking by his guns after the 10Q release.

    Friedman Billings Ramsey & Co. analyst Scott Valentin reiterated in a research note Friday that NovaStar "is in a difficult position -- asset values continue to decline, exposing the company to additional margin calls and write-downs, and credit quality continues to deteriorate, increasing losses and loan-loss provision expense."

    The analyst rates NFI underperform rating and zero price target on the shares, "reflecting our belief that in a liquidation scenario, there will be no value for common equity."
    Several mortgage lenders have already filed for bankruptcy, and so far American Home Mortgage Investment Corp. is the largest casualty.

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