Assured Guaranty Retains ‘Overweight’ Rating (AGO)

PiperJaffray has reiterated its ‘Overweight’ rating for Assured Guaranty AGO. The company provides credit enhancement products in the financial guaranty direct and reinsurance market. Assured Guaranty’s (AGO) operating objectives include expansion of direct and reinsurance FG businesses. The company is also looking to boost its international standing. Assured Guaranty is likely to benefit from deceleration in early stage delinquencies and acceleration in loss mitigation. According to a report released by PiperJaffray, the company is also gearing up for an additional distribution channel in offering a “Click-n-Close” electronic platform to the secondary market. AGO stock is currently trading at a discount to its peers. The report has given AGO a price target of $35.