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NMI Holdings price target raised to $40 from $34 at RBC Capital

RBC Capital analyst Mark Dwelle raised the firm’s price target on NMI Holdings to $40 from $34 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The quarter benefited again from large reserve releases and low default activity, and its cure rates outpaced new defaults in Q2, the analyst tells investors in a research note. Similar to other Mortgage Insurers, the credit environment remains favorable as underwriting standards for the sector remain healthy, the firm added.

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