Moshe Orenbuch, an analyst at Credit Suisse, raised his estimate for Countrywide earnings in 2008 to $2 a share from $1.60, compared with a projected loss of 28 cents a share for all of 2007.
He expects Countrywide to have solid profits from loan servicing, which includes collecting payments and handling other administrative tasks, such as foreclosures. Credit Suisse has done investment-banking work for Countrywide in the past year. Mr. Orenbuch has an "outperform" rating on the stock with a target price of $28. He says he doesn't own any Countrywide shares.
~ The Wall Street Journal, "Countrywide's Profit VowMay Call for Closer Look," October 30, 2007, by James R. Hagerty