MGIC Investment (MTG) PT Bumped to $10 at Credit Suisse
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Credit Suisse analyst Douglas Harter bumped his price target on MGIC Investment (NYSE: MTG) to $10.00 (from $8.00) while maintaining a Neutral rating.
Harter commented, "MTG has traded above the $9.03 early conversion price for its 2020 convertibles for the past 7 days; should the price remain above that level for 13 of the next 23 days, there will be a mandatory conversion of the convertible note. This would not impact EPS as the shares are already included in the diluted share count."
Shares of MGIC Investment closed at $9.22 yesterday.
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