Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Assured Gains as BTIG Analyst Says Insurer’s Stock May Triple

Dec. 5 (Bloomberg) -- Assured Guaranty Ltd., the only active insurer of new U.S. municipal bonds, rose in New York trading after BTIG LLC said the shares may more than triple.

The insurer gained 98 cents, or 8.7 percent, to $12.23. The stock has declined 31 percent this year.

BTIG analyst Mark Palmer initiated coverage on the Hamilton, Bermuda-based company with a “buy” rating and $35 price target. Standard & Poor’s decision to allow Assured Guaranty to maintain a rating in the AA tier will allow it to gain business as “the only currently functioning monoline,” he said.

S&P cut Assured Guaranty to AA- from AA+, according to a Nov. 30 statement from the ratings company.

To contact the reporter on this story: Jody Shenn in New York at jshenn@bloomberg.net.

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.