MGIC Investment (MTG) PT Raised to $13 at Deutsche Bank
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Price: $26.30 +0.92%
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
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Deutsche Bank raised its price target on MGIC Investment (NYSE: MTG) to $13.00 (from $12.00) while maintaining a Buy rating. Estimates were revised, taking into consideration the outlook for a lower claims rate, partially offset by a higher expense ratio and lower premium yield.
Despite recent material reserve benefits, analyst Phil Stefano continues to estimate MGIC's redundant reserve position is approximately $70mn.
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