MBIA still a Buy at MKM Partners

|About: MBIA Inc. (MBI)|By:, SA News Editor

"MBIA (MBI -0.5%) now stands on far more stable footing," says MKM's Harry Fong, reiterating his Buy rating and $20 price target following the company's Q4 results.

The timing is up in the air, but management continues to be optimistic S&P will come around to giving National Public Finance a AA rating (see yesterday's CC coverage), allowing the unit to begin the profitable business of writing insurance again. Other catalysts include MBIA Insurance on the verge of turning profitable again.