Keefe Bruyette upgraded MGIC Investment to Outperform from Market Perform with a price target of $25, up from $24. The analyst thinks the underperformance of the shares quarter-to-date has created an attractive entry point. While interest rates have increased, mortgage insurance sector fundamentals remain solid as credit continues to be a tailwind given strong home price appreciation and a resilient job market, the analyst tells investors in a research note. The firm believes current valuations have created attractive entry points for both MGIC Investment (MTG) and Radian Group (RDN).
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