Piper Jaffray is out with a research report this morning, where it reiterates its Overweight rating on Assured Guaranty AGO; it has a $37.00 price target on the stock.
The PJ analysts cited a recent meeting with management, which lead them to believe that several catalysts exist for the stock in the near future. Included among those catalysts are “stable delinquency trends, improved penetration of muni underwriting, advanced visibility on municipal credit and continued capital generation which leads to improved outlooks and ratings.”
The analysts added that there are many levers that exist that the company can pull to lead to capital utilization. They said that Assured Guaranty appears poised to be in an excess capital position in the very near future.
Bermuda-based Assured Guaranty Ltd. provides credit enhancement products in the financial guaranty direct, financial guaranty reinsurance, and mortgage guaranty markets. AGO's operating objectives include expanding both the direct and reinsurance FG businesses, while growing its international presence.
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