MGIC Investment price target raised to $28 from $27 at Barclays

Barclays raised the firm’s price target on MGIC Investment (MTG) to $28 from $27 and keeps an Equal Weight rating on the shares as part of a Q3 preview for the consumer finance sector. Investors are more cautious on credit and consumer health heading into the Q3 results, the analyst tells investors in a research note. However, Barclays believes credit performance “remains in a good place after two plus years of tightening.” Meanwhile, the rate rally this quarter “breathed optimism” into the mortgage market, but has since been tempered, adds the firm. It continues to believe rates will be elevated into 2026.