BTIG analyst Soham Bhonsle initiated coverage of Compass with a Buy rating and $5 price target. Compass is the firm’s top pick in the residential brokerage sector. The company’s share take and tight expense management should enable sustainable profitability, starting in Q2, the analyst tells investors in a research note. The firm also believes Compass’ tech platform should result in better retention of agents, lower cost of serve over time, and potential benefits to ancillary services.
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