tiprankstipranks
Redfin price target raised to $7.50 from $5.50 at DA Davidson
The Fly

Redfin price target raised to $7.50 from $5.50 at DA Davidson

DA Davidson analyst Tom White raised the firm’s price target on Redfin to $7.50 from $5.50 and keeps a Neutral rating on the shares. The firm’s proprietary analysis of the company’s share of U.S. for-sale home listings suggests that its listing share may be under pressure, though there is also increased risk that Redfin’s recent strategic pivots could attract new potential M&A interest, the analyst tells investors in a research note. When Redfin’s business mix and strategic orientation was more tilted to brokerage, there was a more limited group of potential suitors for the company, but its active network of partner brokerages and its recent expansion into Rentals advertising makes its look more like a digital media company every day, the firm added.

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on RDFN:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles