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Fly News Breaks for November 11, 2015
AFSI
Nov 11, 2015 | 09:25 EDT
FBR Capital analyst Randy Binner views last night's secondary offering from AmTrust Financial Services as providing another buying opportunity into the name. AmTrust has a history of raising capital shortly before announcing M&A transactions, Binner tells investors in a research note. The analyst notes that following a 7.4% pullback the week after the last capital raise in January, the stock rallied 23.8%. He thinks AmTrust could trade in a similar pattern this time around and keeps an Outperform rating on the name.
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