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Fly News Breaks for February 28, 2020
RDFN
Feb 28, 2020 | 06:17 EDT
KeyBanc analyst Edward Yruma initiated coverage of Redfin with a Sector Weight rating and no price target. The company should benefit from favorable near-term housing market dynamics, but internet buying has "significant business model complexity and its full cycle profitability remains unclear," Yruma tells investors in a research note. He believes profitability growth, not revenue growth, will be the driver of stock performance in the Marketplaces category.
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