Piper Jaffray Overweight On Assured Guaranty (AGO)

Piper Jaffray has an Overweight rating and a $35 price target on shares of Assured Guaranty AGO. In a note sent to clients, Piper Jaffray writes, "As we look back on 2010 Muni issuance, we believe it noteworthy to recognize two points regarding Assured Guaranty. First, fourth quarter production likely comes in better than anticipated despite the ratings downgrade from S&P and second, history will show a higher level of profitability for Assured Guaranty as a AA carrier than that of former AAA stalwarts MBIA and Ambac, in our opinion. As such, we continue to recommend purchase of Overweight rated Assured Guaranty." Shares of AGO gained 15 cents yesterday to close at $19.03.