** Shares of property and casualty insurer Ambac Financial AMBC.N jump as much as 13.2%; last up 9.8% at $12.85
** AMBC on Tuesday approved an acceleration of its $50 mln share buy-back program, which it will commence immediately
** Company may "opportunistically" repurchase shares at management's discretion till 2026 end; it intends to limit purchases to $15 mln prior to the sale of its legacy financial guarantee business - AMBC
** AMBC in June had struck a $420 mln deal to sell its legacy financial guarantee business to Oaktree Capital, as it looks to sharpen its focus on its core business
** Roth MKM says AMBC will repurchases shares if the price remains at its current depressed levels but cautions that the company might rather use funds for acquisitions and likely stop stock repurchasing shares, once it is around the $15 level
** Continue to like the shift underway and believe success could happen quicker depending on how successful AMBC's acquisitions will be over the next few years - Roth MKM
** As of last close, AMBC shares down 29% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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