MKM Partners Says MBIA (MBI) Could Be a 'Compelling Story' Again; Reiterates Buy
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Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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MKM Partners maintained a Buy rating and $12.00 price target on MBIA Inc. (NYSE: MBI).
Analyst Harry Fong commented, "We believe MBIA is once again a very compelling story. MBIA’s share price since the financial crisis has been one of the more volatile ones in the entire market. When CEO Jay Brown rejoined the company in early 2008, he put forth a five year turnaround plan. He didn't get it done as fast as he had hoped, but that plan is now finally coming together. With an adjusted book value of nearly $30 per share, we believe MBIA’s shares are worthy of investment consideration. Accordingly, we reiterate our Buy recommendation with a price target of $12, based on a multiple of roughly 0.4x our 2016 ABV per share estimate."
For an analyst ratings summary and ratings history on MBIA Inc. click here. For more ratings news on MBIA Inc. click here.
Shares of MBIA Inc. closed at $9.02 yesterday.
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