BTIG Upgrades MBIA Inc. (MBI) to Buy

BTIG upgraded MBIA Inc. (NYSE: MBI) from Neutral to Buy with a price target of $10.00.

Analyst Mark Palmer said, "We are upgrading our recommendation on MBIA (MBI) to Buy (from Neutral) with a $10 price target based on 50% of the company’s adjusted book value (ABV) per share of $25.78 adjusted for estimated losses of $6.35 per share related to the company’s insured exposure to Puerto Rico’s debt. We believe that at less than 23% of the company’s ABV, MBI’s share price already reflects a severely dire outcome in Puerto Rico such that it has positive optionality to a somewhat more favorable result."

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 $5.83 yesterday.

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