Essent Group upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette upgraded Essent Group to Outperform from Market Perform with a price target of $70, up from $65. The firm increased estimates to incorporate lower provisions for new notices and lower expenses post the Q2 report. The analyst thinks the shares have incremental upside versus peers in the event of a stronger than currently expected mortgage market in 2025. Essent’s valuation provides an attractive entry point, the analyst tells investors in a research note.