Keefe Bruyette downgraded Radian Group (RDN) to Market Perform from Outperform with an unchanged price target of $38. The firm says that while operating trends for the mortgage insurers have remained strong year-to-date, it sees a lack of near-term positive catalysts. Credit risk could increase modestly in the back half of 2025 as the pace of home price appreciation is likely to slow, the analyst tells investors in a research note. As such, Keefe sees mortgage insurer valuations as range-bound. It downgraded three names in the sector.
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