Redfin price target raised to $11 from $8.60 at Citi

Citi raised the firm’s price target on Redfin to $11 from $8.60 and keeps a Neutral rating on the shares. The company Redfin reported Q2 results ahead to in-line with consensus, but its Q3 guidance below expectations, and management pushed out its target of positive EBITDA, the analyst tells investors in a research note. It is a difficult environment right now, and coupled with another quarter of share loss, Redfin “has to work to get back on track, says Citi.