UBS initiated coverage of Opendoor Technologies with a Neutral rating and $2.75 price target. The analyst sees a path to the company’s target volumes and contribution margins in mid-2024 and to positive adjusted net income. However, the firm is concerned “we are not yet out of the woods on risks” around housing pricing volatility, particularly given the UBS economics “dim views” for 2024. As such, it believes Opendoor will not achieve its sales targets until 2025.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on OPEN:
- DraftKings upgraded, Snap initiated at Sell: Wall Street’s top analyst calls
- Opendoor upgraded to Hold after selloff at Gordon Haskett
- Opendoor Technologies upgraded to Hold from Underperform at Gordon Haskett
- Opendoor Technologies price target lowered to $2.70 from $3.90 at Citi
- Here’s What Kept Redfin (NASDAQ:RDFN) & Other Real Estate Stocks Under Pressure Yesterday