Essent Group price target raised to $59 from $51 at RBC Capital

RBC Capital raised the firm’s price target on Essent Group to $59 from $51 and keeps an Outperform rating on the shares. The company generated another strong quarter as margins remain excellent, the analyst tells investors in a research note. While reserve releases continued at an accelerated pace due to the continued unwind of Covid defaults, Essent’s core margins remain “historically strong and impressive”, the firm added.