Radian Group upgraded to Buy at BofA after recent pullback

As previously reported, BofA analyst Mihir Bhatia upgraded Radian Group (RDN) to Buy from Neutral with an unchanged price target of $24 following recent weakness in the stock. The shares are down 8% over the past month versus an average decline of 2% for peer mortgage insurers Enact (ACT), Essent (ESNT) and MGIC Investment (MTG), Bhatia noted. The shares could offer an "attractive" 34% total return at the current valuation, Bhatia estimates.