You would think that after seeing MGIC post a $518 million loss in the third quarter that stock analysts wouldn't be fawning all over the nation's largest MI firm -- but think again. In a new report, FBR Research says it is maintaining its "outperform" rating on the company. FBR says MGIC has a tangible book value of at least $13.81. On Monday the stock was trading for about $6.20, down slightly on the day. According to the Quarterly Data Report, MGIC is the nation's largest MI in terms of policies in force ($220 billion) and new business written. FBR says MGIC may be over over-reserving for losses...
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