Piper Jaffray Reiterates Overweight Rating on MGIC Investment Corp. (MTG)

Piper Jaffray maintains its Overweight rating on MGIC Investment Corp. MTG following MTG's commentary at Piper Jaffray's Financial Services Conference. Piper Jaffray states, "the return, as well as speed of return, to profitability continues to be tied mainly to the economic recovery. In our view, a slow, steady recovery potentially yields a picture of modest profitability in 2012. The upside ultimately resting with a surge in economic activity and a recovery in jobs. Following the trail, with jobs comes improved mortgage delinquency trends via fewer new notices as well as a higher level of cures, allowing for fewer paid losses and reserve requirements." MTG closed Friday at $8.48.