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Fly News Breaks for April 10, 2018
MTG, ESNT
Apr 10, 2018 | 08:47 EDT
RBC Capital analyst Mark Dwelle lowered his price target on Essent Group (ESNT) to $48, saying the competitive pressure on prices from the announcement by MGIC Investments (MTG) is a negative that will weigh on growth and margin expansion. Despite those headwinds however, the analyst notes Essent's clean balance sheet, low loan loss ratio, and operating leverage opportunities in keeping his Outperform rating on the stock, adding that the shares are attractive at the "current depressed valuation".
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