MBIA Inc Gets a Buy Rating from BTIG

By Carrie Williams

BTIG analyst Mark Palmer reiterated a Buy rating on MBIA Inc (NYSE: MBI) yesterday and set a price target of $14. The company’s shares closed yesterday at $8.07.

According to TipRanks.com, Palmer is a 3-star analyst with an average return of 2.2% and a 49.2% 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 $12.

The company has a one year high of $11.65 and a one year low of $6.34. Currently, MBIA Inc has an average volume of 2.06M.

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MBIA, Inc. is a 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. It operates through the following segments: U.S. Public Finance Insurance, Corporate, International and Structured Finance Insurance. The U.S. Public Finance Insurance segment is principally conducted through National. National issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of U.S. political subdivisions, as well as utilities, airports, health care institutions, higher educational facilities, student loan issuers, housing authorities and other similar agencies and obligations issued by private entities that finance projects that serve a substantial public purpose. The Corporate segment consists of general corporate activities, including providing general support services to MBIA’s other operating businesses and asset and capital management. The International and Structured Finance Insurance segment is conducted thru the MBIA Corp. The company was founded in 1973 and is headquartered in Purchase, NY.