Can someone post the general gist of this report? Supposedly it shows a lot of asset value and legal recoveries for AMBC, but that it assumes only a part of this value actually goes to the common shareholders? Why would this be the case? As far as I know, AMBC can utilize extra cash from legal settlements (etc.) as it wishes (including buying back stock, dividends, etc.). The Holdco and equity claims are already well known. Can someone explain why the stock is moving?
r.w. pressprich & co came out with a report with a stock range between 18.84-27.34 based upon certain assumptions. By the way, i have never heard of them. Then ODEON just released another report today with a $45 dollar target defending the stock. The story has not changed, and I am siding with Odeon.
Thanks - it seems like the RWP report doesn't have any new info, just opinion about what the company might do once they get settlement cash (like sit on it, instead of pay it out - but it's still worth something the the stock in that case anyway, so not sure why they discount it so highly - I think they just want to make a name for themselves with a bear report after the stock was up - never heard of them before this either) . . . I think the price target they have is way too bearish - this is a complex situation, but it already trades at a steep discount to probable asset value for that reason. As for RWP - I am not impressed.