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Fly News Breaks for April 10, 2018
MTG, RDN
Apr 10, 2018 | 07:50 EDT
As reported earlier, RBC Capital analyst Mark Dwelle downgraded Radian Group (RDN) to Sector Perform from Outperform and lowered his price target to $19 from $28. Dwelle cites the latest reduction in borrower-paid premium rates at MGIC Investment (MTG) and believes sentiment in the space will be negatively impacted. The analyst adds that while Radian has made "good progress" in expanding margins and building its credit profile, an "adverse pricing environment" could weigh on growth and pressure margins over the next several quarters.
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