Essent Group price target raised to $55 from $50 at BTIG

BTIG analyst Eric Hagen raised the firm’s price target on Essent Group to $55 from $50 and keeps a Buy rating on the shares post the Q2 report. The company reported a “clean beat” on lower combined ratio, as home prices continue to show low sensitivity to higher mortgage rates, the analyst tells investors in a research note. The firm sees visibility for earnings strength at Essent, driven by lower loss rates than it had been modeling.