BofA upgraded Enact Holdings to Buy from Neutral with an unchanged price target of $30. The analyst views the company’s credit profile and capital return potential as attractive. The firm has a favorable view of the mortgage insurance sector, saying demographic trends are favorable, weaker affordability argues for more mortgage insurance usage, and higher home prices are supporting housing credit. It sees a favorable risk/reward at current share levels.
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Read More on ACT:
- Enact Holdings declares special dividend of $113M
- Enact Holdings reports Q3 EPS $1.02, consensus 89c
- Enact Reports Third Quarter 2023 Results
- Enact Declares Quarterly Dividend of $26 Million and Special Dividend of $113 Million
- Enact to Host Third Quarter 2023 Earnings Call November 2nd
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