I stumbled across this great article at CircleofCompetence that lists several stocks that are severely undervalued, one of which is Primus Guaranty (PRS). From the article:
"You’re still getting a company worth anywhere between $9-$12 or so, for under $4. If I had a Cramer BUY BUY BUY button, I might hit it right now."
Zacks is also out with an article on the company where they give it a six month price target of $4.50, however they echo CircleofCompetence by stating that the book value of the company (from December 31, 2007) is $10.40 a share.
As disclosed here, Primus is a MF Global Gains selection.