MBIA just downgraded at Roth MKM, here’s why

Roth MKM downgraded MBIA to Neutral from Buy with a price target of $15, up from $12, after the company’s announcement of an extraordinary cash dividend on MBIA common stock of $8 per share to shareholders of record as of December 18 to be paid on December 22. While Roth expects the company to eventually be sold, the timing of a sale is “nearly impossible to forecast as is its eventual sale price,” the analyst tells investors in a research note.