Keefe, Bruyette & Woods Maintains Market Perform Rating On First American Corp. (FAF)

First American Corp.

is a leading player in the title insurance industry with operations in specialty insurance as well. The insurance sector is likely to see mortgage volumes at the lower end of historical levels. However, title insurance companies are expected to benefit from continued expense management and less volatility in order counts. These companies are also expected to retain stable margins. Therefore, Keefe, Bruyette & Woods has updated their estimates and price target for First American Corp. (

) The company has successfully completed the CoreLogic spin-off. As part of the transactions, the title insurance and specialty insurance business will be carried out under the name of First American Financial. Its ticker will retain the FAF ticker. The company has retained its Market Perform rating at KBW with a price target of $16.00.