Redfin price target raised to $9.00 from $4.50 at Susquehanna

Susquehanna analyst Shyam Patil raised the firm’s price target on Redfin to $9.00 from $4.50 and keeps a Neutral rating on the shares. The analyst said Redfin’s business remains pressured by the difficult housing market, though the 4Q results cleared a low bar. The 1Q guide was mixed overall, again reflecting the continued challenges in the housing macro, though management’s commitment to positive 2023 EBITDA regardless of the housing market is encouraging.