* Rescue plan for Freddie, Fannie restores markets

* Still, Merrill cuts GSEs share price targets

* Belgium's InBev buys Anheuser-Busch in sweetened deal

By Ellis Mnyandu

NEW YORK, July 14 (Reuters) - U.S. stocks headed for a higher open on Monday, buoyed by the government's rescue plan for mortgage finance companies Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) and optimism about a $52 billion deal to acquire No. 1 U.S. brewer Anheuser-Busch Cos Inc (BUD.N: Quote, Profile, Research).

As calm returned to markets around the world after Washington's weekend emergency action, Wall Street was poised to open higher after Friday's sell-off.

Fannie Mae and Freddie Mac shares each jumped more than 20 percent before the bell after the Treasury Department and Federal Reserve unveiled sweeping measures to lend money and buy equity if needed to shore up the government-sponsored enterprises. For details, see [ID:nN11340394]

Nevertheless, citing the chances of credit losses dragging on the stocks, Merrill Lynch cut its price targets on the two mortgage finance providers. Merrill Lynch reduced Freddie Mac's price target to $7 from $20 and cut its price target on Fannie Mae to $9 from $22. [ID:nWNA0527]

Last week's sudden plunge in the shares of the twin pillars of the U.S. housing market was fanned by fears they might be undercapitalized.