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UPDATE: Goldman Sachs Initiates Coverage on MGIC Investment on Opportunities in Mortgage Finance Value Chain

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Earnings Scheduled For July 16, 2015
Earnings Scheduled For January 20, 2015

In a report published Thursday, Goldman Sachs analyst Eric Beardsley initiated coverage on MGIC Investment (NYSE: MTG) with a Conviction List-Buy rating and $10.00 price target.

In the report, Goldman Sachs noted, “We initiate coverage on the Specialty Finance sector with Buy ratings on MTG (CL-Buy) and RDN (23% and 18% upside to our targets respectively) as we believe their pace of credit improvement is underestimated by the market. The sector also has one of the strongest secular growth outlooks in financials as FHA reform drives increased demand for private mortgage insurance. New entrant ESNT (Neutral) is a pure-play growth story, though lacks the credit upside of MTG and RDN and looks fairly valued in our view.”

MGIC Investment closed on Wednesday at $8.10.

Latest Ratings for MTG

DateFirmActionFromTo
Jul 2015JMP SecuritiesMaintainsMarket Outperform
May 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Apr 2015Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for MTG
View the Latest Analyst Ratings

Posted-In: Eric Beardsley Goldman SachsAnalyst Color Initiation Analyst Ratings

 

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