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Fly News Breaks for June 10, 2019
RLGY
Jun 10, 2019 | 06:17 EDT
Stephens analyst John Campbell downgraded Realogy Holdings to Equal Weight from Overweight and cut his price target for the shares to $8 from $16. The analyst believes the company will sees a "depressed multiple" until it can prove the sustainability of its model, which he thinks will take at least a few quarters of consistent earnings growth. Further, Realogy's "hands are somewhat tied" given its debt position, which makes strategy development incrementally more challenging, Campbell tells investors in a research note.
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