The overreaction to MGIC Investment's (MTG) reduced borrower-paid premium rates presents a "unique buying opportunity," Barclays analyst Mark DeVries tells investors in a research note. The analyst fully expects that the rest of the industry will likely follow suit, but his updated models suggest "only a modest" earnings reduction on lower premium rate forecasts. He believes the stock's risk/rewards are "compelling once again." The analyst lowered his price target for Essent Group (ESNT) to $51 from $57, for MGIC to $16 from $18 and for Radian Group (RDN) to $28 from $31. He keeps Overweight ratings on all three names.