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MBIA Inc. Message Board

  • workmeharderplease workmeharderplease May 6, 2013 2:25 PM Flag

    S&P MAINTAINS STRONG SELL OPINION ON SHARES OF MBI INC.

    S&P MAINTAINS STRONG SELL OPINION ON SHARES OF MBI INC.
    (S&P Capital IQ)
    We keep our $7.00 target price, which assumes the shares trade at 50% of tangible book value, in line with valuations for distressed firms. MBI shares are up amid unconfirmed reports in the Wall Street Journal that claims it and Bank of Ameica (BAC 13, Hold) are set to settle their litigation. MBI is reported to receive a total settlement valued at $1.7B and BAC will take a 5% stake in MBI. We do not share the market's enthusiasm for this news since it is far less than MBI anticipated, and we still view MBI's financial situation as fragile.

    Sentiment: Strong Sell

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MBI
6.33+0.14(+2.26%)Jul 29 4:02 PMEDT