Ambac: Upside From BofA’s FGIC Settlement And Litigation Reserve?

BTIG analyst Mark Palmer hints at likely resolution of Ambac Financial Group, Inc. (NASDAQ:AMBC)’s pending mortgage-related litigation against Bank of America Corp (NYSE:BAC). Palmer is bullish that Bank of America Corp (NYSE:BAC) appears to be signalling intent to clean up its Augean litigation stables. BofA’s litigation stance Citing Ambac Financial Group, Inc. (NASDAQ:AMBC) CEO Diana Adams’ interaction with investors at meetings earlier this month, Palmer observes: “While her team had not seen movement from Bank of America Corp (NYSE:BAC) signalling its intention to settle litigation brought against it by the bond insurer, she was encouraged that the bank’s management continued to…