UPDATE: MKM Partners Starts Radian Group (RDN) at Buy

(Updated - March 4, 2015 10:42 AM EST)

MKM Partners initiated coverage on Radian Group (NYSE: RDN) with a Buy rating and a price target of $22. Analyst Darren Marcus thinks improvements to its insured portfolio will lead to better returns.

"Our price target is based on a multiple of 1.5x our 2016 book value per share estimate of $14.63 per share. In our view, Radian’s earnings and returns will improve over the next several years as its legacy portfolio becomes a smaller portion of its overall portfolio of risk. In addition, we believe Radian will continue to hold a 20%+ market share at a time when the PMI business remains very attractive," said Marcus.

For an analyst ratings summary and ratings history on Radian Group click here. For more ratings news on Radian Group click here.

Shares of Radian Group closed at $16.23 yesterday.

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