BUZZ - BTIG initiates coverage on NMI Holdings with a “Buy” rating; stock price rises

September 22 - ** Shares of mortgage insurance company NMI Holdings NMIH.O rose nearly 2% in afternoon trading to $43.26

** BTIG initiated coverage on the stock with a “Buy” rating; the target price is set at $54, offering 27% upside from the previous trading day’s closing price

** The agency said that the dual benefits of accelerating policy origination growth and declining loss ratios will drive the company to achieve the fastest earnings per share (EPS) growth among peers and deliver a return on equity (ROE) above the industry average

** The company’s superior credit quality is expected to lead to lower volatility in the loss ratio over time

** Out of eight brokerages covering the stock, six have a “Buy” or higher rating and two rate it “Hold”; median target price is $51—data compiled by LSEG

** Including intraday moves, the stock is up 6% year-to-date

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