Essent Group price target lowered to $69 from $72 at Barclays

Barclays lowered the firm’s price target on Essent Group (ESNT) to $69 from $72 and keeps an Overweight rating on the shares. Following the Q3 results, the firm lowered estimates modestly, which reflect a higher modeled default rate going forward. It continues to model reserve releases and thinks the strong cure trends should continue to support that.