Gordon Haskett upgraded Redfin (RDFN) to Hold from Underperform as the firm believes Rocket Companies’ (RKT) offer to acquire Redfin will be the “best and final.” The news is weighing on Zillow (Z) (ZG), which is down about 3% in pre-market trading, as the transaction, once closed, will create a more integrated real estate platform competitor, the analyst noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RDFN:
- Unusually active option classes on open March 10th
- Rocket needs cross-sales to justify Redfin price, says BTIG
- Morning Movers: Redfin soars and Rocket Companies dips following deal
- M&A News: Redfin (NASDAQ:RDFN) Blasts Higher with Rocket Companies Merger
- Redfin Merges with Rocket Companies in Strategic Deal