In a report issued on May 4, Mark Palmer from BTIG reiterated a Buy rating on Assured Guaranty Ltd (NYSE: AGO), with a price target of $51. The company’s shares closed on Friday at $36.13.
Palmer noted:
“Development, More Buybacks Drive 1Q18 EPS Beat Insofar as questions have been raised recently as to the prudence of Assured Guaranty’s (AGO) share buyback program in light of its almost $5bn in insured exposure to Puerto Rico’s debt and its other below investment grade (BIG) exposures, we believe the company’s 1Q18 report provided a reminder of the shareholder value created by its buybacks as well as of the demonstrated resilience of its insured portfolio in the face of situations of municipal distress.”
According to TipRanks.com, Palmer is a 5-star analyst with an average return of 8.1% and a 57.6% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Synchrony Financial, and Genworth Financial.
Currently, the analyst consensus on Assured Guaranty Ltd is Moderate Buy and the average price target is $53, representing a 46.7% upside.
In a report issued on April 24, MKM Partners also maintained a Buy rating on the stock with a $55 price target.
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The company has a one-year high of $45.73 and a one-year low of $32.97. Currently, Assured Guaranty Ltd has an average volume of 1.11M.
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Assured Guaranty Ltd. is a holding company, which engages in the provision of credit protection product to the U.S. and international public finance, and structured finance markets through its subsidiaries. Its businesses include public, global infrastructure and structured finance, and reinsurance and specialty insurance.
