Compass Point Reiterates a 'Neutral' on Radian Group (RDN); Capital Still a Concern; 2013 Profitability Guidance Difficult
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Price: $36.59 -0.19%
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Compass Point reiterates a 'Neutral' on Radian Group (NYSE: RDN) price target of $3.00.
Analyst, Chris Gamaitoni, said, "While our $3.00 price target is 17% below the current market price, we believe a short of RDN is too risky given potential beneficial announcements from the FHFA surrounding HAMP 2.0. We are increasing our 2012E from ($2.24) to ($2.04) and decreasing our 2013E from $0.85 to ($0.49) driven by a slower estimated improvement in new defaults for 2013. Overall, we believe investors should stay uninvolved in shares of RDN...We continue to prefer investors who want exposure in the mortgage insurance space to buy MGIC Corp. (NYSE: MTG)(Buy, $5.25 PT)."
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 $3.62 yesterday.
Analyst, Chris Gamaitoni, said, "While our $3.00 price target is 17% below the current market price, we believe a short of RDN is too risky given potential beneficial announcements from the FHFA surrounding HAMP 2.0. We are increasing our 2012E from ($2.24) to ($2.04) and decreasing our 2013E from $0.85 to ($0.49) driven by a slower estimated improvement in new defaults for 2013. Overall, we believe investors should stay uninvolved in shares of RDN...We continue to prefer investors who want exposure in the mortgage insurance space to buy MGIC Corp. (NYSE: MTG)(Buy, $5.25 PT)."
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 $3.62 yesterday.
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