MBIA Inc Gets a Buy Rating from BTIG

In a report released yesterday, Mark Palmer from BTIG reiterated a Buy rating on MBIA Inc (NYSE: MBI), with a price target of $14. The company’s shares closed yesterday at $8.67.

Palmer commented:

“Buybacks, Modest Q/Q Decline in Adjusted Book Value While the 1Q18 report that MBIA (MBI) released after the market close today did little to advance the bullish thesis on the company’s shares, it also provided scant fuel to the stock’s many detractors as reflected in its lofty short interest.”

According to TipRanks.com, Palmer is a 5-star analyst with an average return of 9.2% and a 59.6% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.

MBIA Inc has an analyst consensus of Moderate Buy, with a price target consensus of $14.

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Based on MBIA Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $223 million and GAAP net loss of $37 million. In comparison, last year the company earned revenue of $93 million and had a GAAP net loss of $72 million.

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MBIA, Inc. operates as holding company, which through its subsidiaries, provides financial guarantee insurance, as well as related reinsurance, advisory and portfolio services and asset management advisory services, for the public and structured finance markets.