Ambac Financial Group Will Be Better Positioned Once Sale Of Financial Guarantee Business Closes, Analyst Says
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After declining since the beginning of 2024, shares of Ambac Financial Group, Inc. (NYSE:AMBC) have risen by almost 10% over the past five trading sessions.
The sale of Ambac Financial Group’s legacy financial guarantee business is expected to close by yearend, positioning the holding company for cash earnings “within a year or two,” according to Roth Capital Partners.
Analyst Harry Fong upgraded the rating for Ambac Financial Group from Neutral to Buy, while raising the price target from $13 to $15.
The Ambac Financial Group Thesis: Following the close of the financial guarantee business sale, the company will commence a share repurchase program of up to …
Full story available on Benzinga.com
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