BTIG analyst Mark Palmer maintained a Buy rating on Ambac Financial (NASDAQ: AMBC) yesterday and set a price target of $26. The company’s shares closed yesterday at $19.47.
Palmer said:
“for Wednesday; Ruling Could Set Stage for Settlement Ambac Financial Group (AMBC) will take the next step toward resolution of its representation and warranty (R&W) litigation against Bank of America (BAC, Not Rated) tomorrow when both sides will present arguments supporting their appeals of the summary judgment rulings issued by New York State Supreme Court Judge Eileen Bransten in October 2015.”
According to TipRanks.com, Palmer is a 5-star analyst with an average return of 10.1% and a 61.9% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.
Ambac Financial has an analyst consensus of Moderate Buy, with a price target consensus of $26.
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Ambac Financial’s market cap is currently $882.6M and has a P/E ratio of 8.73. The company has a Price to Book ratio of 0.48.
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Ambac Financial Group, Inc. is a holding company, which engages in the provision of financial guarantees and other financial services. It operates through the Financial Guarantee and Financial Services bussiness segments. The Financial Guarantee segment provides financial guarantees for public finance, structured finance, and international obligations.
