Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of credit protection specialist Assured Guaranty
So what: Analyst firm BTIG started coverage on Assured with a buy rating and a $35 price target. The firm is looking for more than a triple here, based on "the viability of its business model" being underappreciated by investors today.
Now what: The same firm also issued a similarly glowing recommendation of sector rival MBIA
But is this the bottom, or will BTIG catch a couple of falling knives? If anybody claims to know the answer right now, that person also has a nice bridge to sell you in New York. Playing this sector long or short could be bad for your portfolio's health, though volatility-seeking strategies should work out all right.
Interested in more info about Assured Guaranty? Click here to add it to My Watchlist.