Old Republic International Corporation (ORI) Maintains Buy Rating

Analyst Elizabeth C. Malone at Wunderlich Securities has released an update on Old Republic International Corporation (NYSE: ORI).

Wunderlich Securities believes that the stabilization in the housing market would provide an upside for Old Republic International’s mortgage and title businesses. It estimates a loss of $323 million in 2010 for the company’s MI division and expects the division to return to profitability in 2011. It also believes that the Home Affordable Modification Program (HAMP) and Home Affordable Refinance Program (HARP), which were enacted during the financial crisis to assist delinquent and under-performing loans, will benefit MI companies.

Wunderlich Securities has maintained its Buy rating and $15 price target for Old Republic International Corporation.