Anywhere Real Estate price target lowered to $5.50 from $9.50 at Stephens

Stephens analyst John Campbell lowered the firm’s price target on Anywhere Real Estate to $5.50 from $9.50 and keeps an Equal Weight rating on the shares. In a period of worsening market pressures, the company was able to deliver free-cash-flow of $95M, pushed out its debt maturities, and continued to display encouraging trends, the analyst tells investors. While the company did come short of Street Q3 expectations, Stephens believes investors are looking beyond current near term hurdles and focusing on the bigger picture.