Credit Suisse Upgrades NMI Holdings (NMIH) to Neutral

October 11, 2021 7:28 AM EDT
Get Alerts NMIH Hot Sheet
Price: $16.88 +1.38%

Rating Summary:
    10 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 12 | New: 10
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Credit Suisse analyst Douglas Harter upgraded NMI Holdings (NASDAQ: NMIH) from to Neutral with a price target of $30.00 (from $29.00).

The analyst comments "We are upgrading NMIH to Outperform (from Neutral) as we see the shares offering the best relative value in the MI sector. This can be seen either on a P/E basis or a P/B vs. ROE basis. On a P/E basis NMIH is now trading at its lowest multiple to NTM EPS (outside of the onset of COVID) in the past five years and also trading at the lowest multiple of the peers. Given that NMIH is expected to have the fastest EPS growth rate of peers (on consensus and we are 12% higher than consensus through 2023E) we see NMIH returning to a premium valuation relative to peers."

For an analyst ratings summary and ratings history on NMI Holdings click here. For more ratings news on NMI Holdings click here.

Shares of NMI Holdings closed at $23.32 yesterday.

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