NMI Holdings price target lowered to $43 from $44 at Barclays

Barclays analyst Terry Ma lowered the firm’s price target on NMI Holdings (NMIH) to $43 from $44 and keeps an Equal Weight rating on the shares. he firm adjusted mortgage finance targets as part of a Q1 earnings preview, saying higher rates have reset valuations lower. Despite a 40 basis point increase off the February trough for the 30-year fixed-rate mortgage, it is only modestly higher than at the start of the year, the analyst tells investors in a research note. Barclays sees positive risk/rewards at current valuations for the mortgage origination-levered stocks.