Enact Holdings price target raised to $37 from $33 at BTIG

BTIG raised the firm’s price target on Enact Holdings to $37 from $33 and keeps a Buy rating on the shares as part of a broader research note on Mortgage Insurance Sector following Q2 results. Credit performance continues to be solid and new insurance written was in the tightest range “in a long time”, the analyst tells investors in a research note. Macro risks appear to be rising, but the Mortgage Insurance sector is positioned relatively well given significant home equity embedded in portfolios and with the advent of reinsurance that reduces mezzanine risk in a mild recession, the firm added.