Compass Point initiated coverage on Ambac with a new price target
$AMBC
Property-Casualty Insurers
Finance
Compass Point initiated coverage of Ambac with a rating of Neutral and set a new price target of $18.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/18/2024 | $13.00 → $15.00 | Neutral → Buy | ROTH MKM |
| 8/9/2023 | $18.00 | Neutral → Buy | Compass Point |
| 11/28/2022 | $18.00 | Neutral | Compass Point |
Ambac Financial Group, Inc. (NYSE:AMBC) ("Ambac"), an insurance holding company focused on insurance distribution and specialty property and casualty insurance, today provided an update on the timing of the sale of its legacy financial guarantee business and the extension of the maturity date of its outstanding credit facility. The regulatory review process for the sale of Ambac Assurance Corporation and Ambac Assurance UK Limited to funds managed by Oaktree Capital Management, L.P. is nearing completion and a hearing is expected to be held in the third quarter. Claude LeBlanc, President and Chief Executive Officer of Ambac stated, "Although the transaction has exceeded the anticipated ti
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