Radian Group double upgraded to Buy from Underperform at BofA

BofA analyst Mihir Bhatia double upgraded Radian Group (RDN) to Buy from Underperform with a price target of $43, up from $35. Over the last few months, Radian has announced an exit from its real estate services businesses and closed the Inigo acquisition, simplifying the model and improving earnings quality, notes the analyst, who calls shares “attractively valued” relative to other mortgage insurance companies and “cheap on multiple metrics.”