Redfin downgraded to Underperform from Hold at Gordon Haskett

Gordon Haskett downgraded Redfin to Underperform from Hold with a $5.50 price target. The firm sees risks as significantly greater than the reward given risk of legal challenges proving detrimental to Redfin’s brokerage business and capital concerns that it views as likely to persist into 2027. The firm also calls near-term profitability “a show-me story” given its view that “EBITDA (or lack thereof) is low quality.”