Redfin downgraded to Underperform from Hold at Gordon Haskett

Gordon Haskett analyst Robert Mollins downgraded Redfin to Underperform from Hold with a price target of $10, up from $9. Redfin is “trading well above peers” on an enterprise value to EBITDA basis despite operating at margin levels well below, the analyst tells investors in a research note. Th firm says the stock offers more risk than reward following the year-to-date gain of 276%. “Rebounding housing dynamics” are already priced into the Redfin, contends Gordon Haskett.