Ambac Financial Q3 revenue falls on reduced earned premiums
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Ambac Financial reported a 5% decline in Q3 revenue due to reduced earned premiums. The company repurchased 3.1 million shares, reflecting confidence in its strategic direction. Despite adverse loss experiences in its Specialty P&C Insurance segment, Ambac expects improved combined ratios by 2027 and sees growth potential with its Pivix partnership. Analysts maintain a "buy" rating on the stock, with a median 12-month price target of $12.50, indicating a potential upside of 32.2% from its recent closing price of $8.48.
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