Tower Group (TWGP) Takeover May Fetch $9 - Guggenheim

Guggenheim maintained a Neutral rating on Tower Group (NASDAQ: TWGP) with a price target of $11.00. Analyst Bijan Moazami thinks Tower Group is highly likely to lose its A- rating even with recently announced reinsurance transactions. The downgrade could result in a violation of debt covenants, making the company an acquisition candidate. He thinks a potential takeover in this case would fetch $9 per share.

For an analyst ratings summary and ratings history on Tower Group click here. For more ratings news on Tower Group click here.

Shares of Tower Group closed at $7.40 yesterday.

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