Assured Guaranty mentioned positively at JP Morgan JP Morgan finds Assured Guaranty shares significantly undervalued at current levels and raised its target price on shares to $40 after updating its MBS loss analysis. The stock remains the firm's top pick in 2010.
Assured Guaranty tgt raised to $42.00 from $28.00 at JP Morgan JP Morgan significantly raised estimates and its price tgt on AGO after co reported in line operating EPS, but that included a premium amortization schedule that was well above what JP Morgan had previously modeled. JP Morgan raises its 2010 est to $5.00 from $3.00 and 2011 to $6.00 from $4.00. With shares trading significantly below firm's price tgt, JP Morgan said it would be aggressive buyers, adding that stock is trading at just 3.5x firm's normalized earnings estimate of $6.