FBR Upgrades Countrywide Stock Rating

Saying that the recent sell-off of Countrywide's stock is "overdone," analysts at Friedman, Billings, Ramsey and Co. recently changed their recommendation on the company to "outperform."The FBR analysts said in a report that they are confident Countrywide "will remain among the premier mortgage originators in the country." They also noted that subprime loans make up only about 10% of Countrywide's servicing portfolio. The company recently disclosed a 19% delinquency rate on subprime loans. FBR gives Countrywide's stock a price target of $45 per share.