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Fly News Breaks for December 6, 2017
RLGY
Dec 6, 2017 | 08:21 EDT
JPMorgan analyst Anthony Paolone believes estimates for Realogy Holdings have further downside and he dropped his price target for the shares to $30. U.S. tax reform, while having a positive implication on the company's corporate tax rate, has potentially negative implications on the housing backdrop, Paolone tells investors in a research note. Further, the analyst thinks "significant competition" remains for top agents that could continue to put pressure on splits. He keeps a Neutral rating on Realogy shares.
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