Cramer and Analysts Further Talk Up Radian and MGIC
Radian Group Inc. (NYSE: RDN) has been on fire and shares are ticking up yet again on Tuesday. It has risen for eight consecutive trading days, and if Tuesday’s preliminary gains can hold then it could be Radian’s ninth consecutive trading day with gains.
On Tuesday morning we saw that Barclays raised the ratings to Overweight from Underweight on both Radian and on MGIC Investment Corp. (NYSE: MTG). MGIC’s price target was raised to $8 from $1, and Radian’s price target was raised to $14 from $4 for the stock.
Radian was also raised to Outperform from Market Perform at Keefe Bruyette and Woods just on Monday.
MGIC shares have risen for five consecutive trading days, and this will be a sixth consecutive day of gains if it holds.
Market pundit and TV personality Jim Cramer just said on CNBC that there may be a mortgage settlement coming the way of Radian and that it could be worth another $4 alone to the stock price.
Radian shares are up 8% to $10.69, a new 52-week high ($10.04 prior high). MGIC is up 15% to $4.82, and its 52-week high is $5.15.