MBIA price target lowered to $4.50 from $7 at Roth MKM

Roth MKM lowered the firm’s price target on MBIA to $4.50 from $7 and keeps a Neutral rating on the shares. The company’s wider than expected Q2 loss was primarily attributable to its remaining Puerto Rican exposure, PREPA, the analyst tells investors in a research note. The final chapter for MBIA is most likely a sale that could happen at any time, but the company may be waiting for the restructuring of its last Puerto Rican bond, the firm added.