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Fly News Breaks for August 6, 2019
RMAX
Aug 6, 2019 | 09:04 EDT
As previously reported, Compass Point analyst Chris Gamaitoni downgraded RE/MAX Holdings to Neutral from Buy following the company's second quarter earnings report, stating that he prefers to step to the sidelines until there is more clarity around U.S. agent count trends and he has more confidence that its strategies to address recruiting will show promising results. Gamaitoni reduced his price target on RE/MAX shares to $31 from $42 to reflect his increased cost of equity capital estimate and reduced long-term growth assumptions.
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