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

Piper Jaffray analysts released a report on MGIC Investment Corp. MTG today. They wrote that "with the recent decline in shares of MTG, and despite the continued uncertainty around credit and the housing market, we believe that shares of MTG now appear attractive and ripe for a reversal of fortune." Piper Jaffray has an Overweight rating on the stock and an $11 price target. During today's trading session, MTG has lost 0.24% to $8.46. MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance in the United States. As of December 31, 2009, the Company’s principal subsidiary, Mortgage Guaranty Insurance Corporation (MGIC), was licensed in all 50 states of the United States, the District of Columbia, Puerto Rico and Guam.