Re/Max Holdings price target lowered to $14 from $21 at Stephens

Stephens lowered the firm’s price target on Re/Max Holdings to $14 from $21 and keeps an Equal Weight rating on the shares. With its various agent initiatives, mortgage offering, and reorganization work, the firm believes the company is making the “necessary moves” to navigate this down market and eventually exit this trough as a better company, the analyst tells investors. However, Stephens is waiting on the sidelines for a better entry point.