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AMBC

Ambac Financial

$22.48

1.53 (7.30%)

10:13
08/09/18
08/09
10:13
08/09/18
10:13

COFINA deal 'huge win' for Ambac Financial, says BTIG

BTIG analyst Mark Palmer notes that after Ambac Financial released its Q2 report, Puerto Rico's government and its oversight board announced that they had reached a consensual agreement in principle with the senior and junior holders of the COFINA sales tax bonds to restructure that debt. The analyst believes the deal with 93% recovery for senior bondholders represents a "huge positive" for the company. He reiterates a Buy rating and $26 price target on the shares.

  • 09

    Aug

AMBC Ambac Financial
$22.48

1.53 (7.30%)

10/05/17
MKMP
10/05/17
NO CHANGE
MKMP
Bond insurer decline could be opportunity, says MKM Partners
After President Trump said all of Puerto Rico's debt would have to be wiped out, MKM PArtners analyst Harry Fong does not expect the debt to actually be wiped out. He believes that taking this step would violate the principles of contract law and could destroy the municipal bond market. The analyst adds that the bond insurers will not face liquidity issues if Puerto Rico's debt is wiped out. He believes that the decline in their stocks could prove to be a buying opportunity. He keeps Buy ratings on Assured Guaranty (AGO) and MBIA (MBI), and he maintains a Neutral rating on Ambac (AMBC).
02/16/18
BTIG
02/16/18
NO CHANGE
BTIG
BTIG says PREPA request rejection a 'huge' positive for Assured Guaranty, MBIA
BTIG analyst Mark Palmer said that U.S. District Court Judge Laura Taylor Swain's rejection of the financial oversight board's effort to prime the bondholders of the Puerto Rico Electric Power Authority, or PREPA, is a "huge" positive for municipal bond insurers Assured Guaranty (AGO) and MBIA (MBI). Each have significant insured exposure to PREPA's debt and the rejection of PREPA's effort to gain approval for a $1B DIP loan issued by the Puerto Rico government that would have primed the utility's bondholders was a big win, said Palmer. He also believes the ruling had broader implications for them and fellow municipal bond insurer Ambac Financial (AMBC), which has no insured exposure to PREPA but still filed a motion opposing the DIP loan. MBIA shares are up 6.8% in early trading while Assured Guaranty is up about 3.8%.
06/29/18
MKMP
06/29/18
NO CHANGE
Target $20
MKMP
Neutral
Ambac Financial price target raised to $20 from $16 at MKM Partners
MKM Partners analyst Harry Fong raised his price target on Ambac Financial to $20 after its agreement with majority of preferred shares holders to exchange those holdings for debt and warrants issued by the parent Ambac Financial Group (AFG) company. Fong notes that the action "removes the liquidity preference of the AMPS shares over other debts and removes voting rights that could negatively affect other transactions the company may be considering". The analyst also keeps his Neutral rating, adding that shares appear to be "overvalued" on adjusted book value basis.

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QRVO

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AAPL

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AMRS

Amyris

$6.05

0.19 (3.24%)

14:49
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Options
Amyris options imply 19.1% move in share price post-earnings, above median historical move »

Pre-earnings options…

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BA

Boeing

$347.91

-9.02 (-2.53%)

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Periodicals
Pilots claim Boeing Lion Air crash linked to improper training, FT reports »

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AAPL

Apple

$193.31

-0.845 (-0.44%)

14:45
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Technical Analysis
Technical Take: Apple moves lower after rally fails »

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XLK

Technology Select Sector SPDR

$67.49

0.08 (0.12%)

14:40
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14:40
Options
Aggressive call buying in SPDR Tech Fund »

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QRVO

Qorvo

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Apple

$192.80

-1.355 (-0.70%)

14:37
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14:37
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Qorvo, Apple analyst commentary  »

Qorvo price target…

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AAPL

Apple

$192.80

-1.355 (-0.70%)

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TEUM

Pareteum

$1.87

-0.26 (-12.21%)

, IPAS

iPass

$1.14

(0.00%)

14:37
11/13/18
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Recommendations
Pareteum, iPass analyst commentary  »

Pareteum price target…

TEUM

Pareteum

$1.87

-0.26 (-12.21%)

IPAS

iPass

$1.14

(0.00%)

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CF

CF Industries

$50.26

-1.03 (-2.01%)

14:35
11/13/18
11/13
14:35
11/13/18
14:35
Options
CF Industries put volume heavy and directionally bearish »

Bearish flow noted in CF…

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LVS

Las Vegas Sands

$51.96

0.995 (1.95%)

14:25
11/13/18
11/13
14:25
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14:25
Options
Las Vegas Sands call volume above normal and directionally bullish »

Bullish option flow…

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14:25
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General news
Treasury Action: yields remained remained lower »

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VOYA

Voya Financial

$45.49

0.905 (2.03%)

14:24
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11/13
14:24
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14:24
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Voya Financial analyst commentary  »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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BLDP

Ballard Power

$3.07

0.11 (3.72%)

14:16
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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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NYSE market internals summary »

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14:15
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General news
U.S. Treasury budget deficit widened to $100 B »

U.S. Treasury budget…

APTI

Apptio

$37.76

0.12 (0.32%)

14:10
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Options
Aptio attracts call buying after reports of takeover interest »

Aptio attracts call…

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General news
U.S. Treasury budget preview: »

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BAIRY

British Airways

$0.00

(0.00%)

, ICAGY

IAG

$0.00

(0.00%)

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British Airways, Iberia Airlines to pay $5.8M to settle False Claims Act charges »

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$0.00

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$0.00

(0.00%)

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SBGI

Sinclair Broadcast

$31.45

0.17 (0.54%)

, TRCO

Tribune Media

$38.90

-0.455 (-1.16%)

14:09
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Hot Stocks
DOJ confirms settlement with Sinclair, Tribune, Meredith, others »

The Department of Justice…

SBGI

Sinclair Broadcast

$31.45

0.17 (0.54%)

TRCO

Tribune Media

$38.90

-0.455 (-1.16%)

MDP

Meredith

$57.04

(0.00%)

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OAS

Oasis Petroleum

$8.43

-0.33 (-3.77%)

14:05
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11/13
14:05
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Options
Oasis Petroleum call volume above normal and directionally bullish »

Bullish option flow…

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14:05
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General news
Breaking General news story  »

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Treasury Budget data reported »

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VET

Vermilion Energy

$23.53

-0.01 (-0.04%)

14:02
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Upgrade
Vermilion Energy rating change  »

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14:00
11/13/18
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General news
Oil Action: WTI crude »

Oil Action: WTI crude…

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