BTIG Research reiterated a Buy rating on Assured Guaranty AGO and lowered its price target from $37 to $35.
BTIG Research commented, “We are reducing our 2Q12 earnings per share estimate for Assured Guaranty (AGO) to $0.50 from $0.87 based primarily on the decline in risk-free rates during the quarter – the 10-year Treasury rate has declined by 56bps, while the 30-year Treasury rate has fallen by 64bps – which we believe will negatively impact the company's loss estimates.”
Assured Guaranty closed at $11.65 on Monday.
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