The rally in FAC has been defining lately, however, the best is yet to come.
I see a target price based on performance at $4.50 per share in twelve months.
A strategic buyer and/or plan could take the current shareholders out at twice that price.
Buyer candidates include, but are not limited to:
2. The Hartford
3. Infinity Insurance
4. Met Life
I think they should do an ESOP, convert to an S corporation and shelter gains on the conversion with their NOL carryforwards that are still plenty new and old, and have tax free earnings for all employees with a huge retirement plan. This should also include ALL employees and not the top ones only. This is tax efficient and economically rewarding for all as the current shareholders get taken out at $9.00 per share and employees retire rich. OK, now rebut that!
Good volume today on the up swing.
Looks like FAC is on its way to the $4.50 plus target price per share.
This is the early accummulation stage of the stock getting bought up for an annoucement or a transaction.
My calculations put the stock back over $8 per share in the near future if all goes according to plan.