Although the Securities and Exchange Commission (SEC) told Freddie Mac last week that it might bring civil charges against the GSE for its $5 billion earnings restatement, analysts maintain that the firm's shares remain attractive and that significant headline risk has already been priced into Freddie's securities.

"In our view, Freddie Mac shares already trade with a significant headline and regulatory risk premium built into the price, so this formal event could provide modest relief for investors that feared more severe action," said Michael Hughes, equity analyst from Merrill Lynch.

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