BTIG assumes coverage of NMI Holdings with 'buy' rating; shares rise
NMIH•Bullish view on growth and loss ratio
BTIG said the combination of faster insurance in force growth and a lower loss ratio translates into the fastest EPS growth and above average ROEs among peers.
The broker also expects the company's better credit quality to result in lower volatility of loss ratios over time.
Broker sentiment and year-to-date move
Six of eight brokerages rate the stock buy or above, while two rate it hold; the median price target is $51, according to data compiled by LSEG.
Including session moves, the stock has risen 6% year to date.
BTIG starts coverage with buy rating and $54 target
BTIG assumed coverage of mortgage insurer NMI Holdings with a buy rating and a price target of $54, implying a 27% upside to the stock's last close.
Shares of NMI Holdings (NMIH.O) rose nearly 2% to $43.26 in afternoon trading.
