** Mortgage insurer NMI Holdings' NMIH.O shares rise 2.6% to $35.77
** KBW upgrades NMIH to "outperform" from "market perform"; assigns a PT of $43, a 23.3% upside to stock's last close
** Brokerage says the recent stock underperformance creates an attractive entry point for investors
** Says that NMIH has higher credit quality than peers, allowing the company to perform better even if the economy slows down
** KBW says recent reported job cuts at government-backed mortgage providers Federal Housing Administration (FHA) and Ginnie Mae ahead of the spring selling season could temporarily shift some market share to mortgage insurers
** Six of eight brokerages rate the stock "buy" or higher and two "hold"; their median PT is $43, according to data compiled by LSEG
** As of last close, NMIH stock down 5.1% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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