RBC Capital lowered the firm’s price target on Redfin to $7 from $10 and keeps a Sector Perform rating on the shares. The company’s Q3 results were “challenging”, though the recent Apollo refinancing gives the company at least some cushion to maintain capacity into next year where it could return to share gains, which is key to the stock’s multiple expansion, the analyst tells investors in a research note.
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 RDFN:
- Redfin sees Q4 revenue $211M-$226M, consensus $242M
- Redfin reports Q3 EPS (17c), consensus (20c)
- Realtors group CEO leaves amid ‘inflated’ commissions verdict, interim appointed
- Redfin call volume above normal and directionally bullish
- Homebuilders, Zillow in spotlight following ruling on realtor fees