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RMAX

RE/MAX Holdings

$39.05

1.03 (2.71%)

, RDFN

Redfin

$18.41

-0.05 (-0.27%)

09:25
03/19/19
03/19
09:25
03/19/19
09:25

RE/MAX, Redfin partnership mutually beneficial, says William Blair

The exclusive referral partnership announced last night by RE/MAX Holdings (RMAX) and Redfin (RDFN) should be mutually beneficial and makes a lot of sense strategically, William Blair analyst Stephen Sheldon tells investors in a research note. The arrangement appears to be a positive development for RE/MAX, and does not appear to have any notable downside, adds the analyst. He feels the partnership is a good sign for the company's overall market position, noting Redfin specifically approached RE/MAX for the arrangement, likely in part due to its leading brokerage position in Canada. Sheldon admits, however, that it is tough to predict any potential financial impact at this point. He has an Outperform rating on RE/MAX and Market Perform rating on Redfin.

RMAX

RE/MAX Holdings

$39.05

1.03 (2.71%)

RDFN

Redfin

$18.41

-0.05 (-0.27%)

  • 25

    Mar

  • 26

    Mar

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    Mar

RMAX RE/MAX Holdings
$39.05

1.03 (2.71%)

11/19/18
11/19/18
UPGRADE
Target $36

Overweight
Morgan Stanley sees RE/MAX as 'steadier' housing play, upgrades to Overweight
As previously reported, Morgan Stanley analyst Vikram Malhotra upgraded RE/MAX Holdings to Overweight from Equal Weight, noting that the stock is down 36% year-to-date as the housing market has cooled, like its housing-levered peers. However, he thinks the current valuation does not give much credit for its franchise attributes, telling investors that RE/MAX's agent-driven recurring revenue model makes it a steadier housing play. Additionally, the market seems to be undervaluing the company's new mortgage business, Motto, Malhotra contends. However, he lowered his price target on RE/MAX shares to $36 from $56.
12/31/18
PIPR
12/31/18
NO CHANGE
PIPR
Piper favors Fidelity National, RE/MAX amid slowing home sales
Existing home sales remained in a weak trend at down 4% year-over-year in November versus down 3% in October and down 2% in Q3, Piper Jaffray analyst Jason Deleeuw tells investors in a research note. The analyst believes the key drivers continue to be tight home inventories and increased discretion by home buyers after years of steady home price gains have reduced affordability. He continues to expect home sales trends to post low- to mid-single-digit declines for 2019. In this environment, Deleeuw's favorite real estate names are Fidelity National Financial (FNF) and RE/MAX Holdings (RMAX) since both have "catalysts/business models not as sensitive to sales volume trends." Fidelity National is the analyst's favorite real estate name given the potential earnings accretion from the pending Stewart (STC) acquisition that he believes is not factored much into the share price. Deleeuw also favors RE/MAX citing its "steady and high return business model that can sustain growth in multiple housing environments." Agent count and agent fees rather than volume drive the bulk of the company's franchise model economics, says Deleeuw.
01/24/19
COMP
01/24/19
INITIATION
COMP
Neutral
RE/MAX Holdings initiated with a Neutral at Compass Point
03/15/19
PIPR
03/15/19
NO CHANGE
Target $48
PIPR
Overweight
Piper remains bullish on shares of RE/MAX Holdings
After spending time with management, Piper Jaffray analyst Jason Deleeuw remains bullish on the RE/MAX Holdings stock story. The real estate brokerage space is experiencing significant disruption from an influx of capital and technology, but RE/MAX continues to have strong competitive positioning and durable growth, Deleeuw tells investors in a research note. He sees the company as an attractive small cap growth idea and reiterates an Overweight rating on the shares with a $48 price target.
RDFN Redfin
$18.41

-0.05 (-0.27%)

01/22/19
DADA
01/22/19
DOWNGRADE
Target $15.5
DADA
Underperform
Redfin downgraded to Underperform from Neutral at DA Davidson
DA Davidson analyst Tom White downgraded Redfin to Underperform from Neutral and lowered his price target to $15.50 from $17, saying that while the company offers a "longer-term disruption" to the traditional real estate market, it faces near-term headwinds on revenue and profitability. Specifically, the analyst points to Redfin's continued declined in listings shares where the company offers a 1% seller commission, a softening in the U.S. residential real estate market, and "uncertain ROI from incremental marketing spend". White also lowers his FY19 EPS to (54c) from (52c).
01/24/19
COMP
01/24/19
INITIATION
COMP
Buy
Redfin initiated with a Buy at Compass Point
Compass Point analyst Chris Gamaitoni initiated Redfin with a Buy.
02/04/19
SUSQ
02/04/19
NO CHANGE
SUSQ
Susquehanna makes case for Century Communities and Redfin to be acquired
Susquehanna analyst Jack Micenko laid out a case for why he thinks Pulte (PHM) should buy Century Communities (CCS) and why Amazon.com (AMZN) should buy Redfin (RDFN). The analyst feels Pulte is under-penetrated in the true entry-level segment of the market and Century could quickly fill the need in terms of both product type and geography. He believes Pulte could pay a roughly 40% premium to Century's current stock price and still see accretion from the deal. As for Amazon, he noted they have been more active around housing than many appreciate and he believes the data opportunity with Redfin is significant. He said Amazon could pay a roughly 60% premium to Redfin's current stock price. Micenko has a Neutral rating and $25 price target on Pulte while he does not have a rating on shares of Century Communities. Amazon is covered by analyst Shyam Patil, who has a Positive rating and $2,250 price target, and Micenko has a Positive rating and $19 price target on Redfin shares.
02/15/19
RBCM
02/15/19
NO CHANGE
Target $26
RBCM
Outperform
Redfin price target raised to $26 from $20 at RBC Capital
RBC Capital analyst Mark Mahaney raised his price target on Redfin to $26 and kept his Outperform rating after its Q4 earnings beat and Q1 guidance bracketing consensus. The analyst cites the management's confidence in the company's "mass marketing initiative" and "cautious" optimism for the housing market, which he expects to sustain FY19 revenue growth rate consistent with levels seen in FY18.

TODAY'S FREE FLY STORIES

GOLD

Barrick Gold

$16.57

-0.095 (-0.57%)

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ESPR

Esperion

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PCG

PG&E

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XRX

Xerox

$38.95

0.295 (0.76%)

, HPQ

HP Inc.

$20.17

0.05 (0.25%)

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$38.95

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HPQ

HP Inc.

$20.17

0.05 (0.25%)

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FOX

Fox Corp.

$33.60

0.14 (0.42%)

, FOXA

Fox Corp.

$34.26

0.04 (0.12%)

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FOX

Fox Corp.

$33.60

0.14 (0.42%)

FOXA

Fox Corp.

$34.26

0.04 (0.12%)

LGF.A

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0.315 (3.37%)

LGF.B

Lionsgate

$9.07

0.345 (3.96%)

SNE

Sony

$62.03

0.23 (0.37%)

VIA

Viacom

$26.59

1.28 (5.06%)

VIAB

Viacom

$23.07

0.59 (2.62%)

T.CA

TELUS Corp. (Toronto)

$0.00

(0.00%)

CMCSA

Comcast

$44.54

-0.93 (-2.05%)

CMCSK

Comcast

$0.00

(0.00%)

DIS

Disney

$144.63

-2.56 (-1.74%)

03/08/13
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  • 09

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JNJ

Johnson & Johnson

$134.97

3.99 (3.05%)

13:36
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J&J rushed to test baby powder and got complicated results, WSJ says »

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BA

Boeing

$371.55

4.25 (1.16%)

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AZN

AstraZeneca

$47.46

0.09 (0.19%)

13:17
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LLY

Eli Lilly

$113.18

1.8 (1.62%)

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AZN

AstraZeneca

$47.46

0.09 (0.19%)

13:09
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11/17
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AstraZeneca says data shows Farxiga reduces risks in heart failure patients »

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BA

Boeing

$371.55

4.25 (1.16%)

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BBIO

BridgeBio

$28.26

0.55 (1.98%)

, EIDX

Eidos Therapeutics

$46.58

1.33 (2.94%)

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BridgeBio, Eidos present 'positive' data from Phase 2 clinical trial of AG10 »

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BBIO

BridgeBio

$28.26

0.55 (1.98%)

EIDX

Eidos Therapeutics

$46.58

1.33 (2.94%)

03/08/13
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CLBS

Caladrius

$2.64

-0.06 (-2.22%)

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KNSA

Kiniksa

$6.52

0.1 (1.56%)

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MDCO

The Medicines Co.

$51.92

1.03 (2.02%)

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AMGN

Amgen

$220.84

2.29 (1.05%)

12:54
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  • 07

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CNI

Canadian National

$93.64

0.46 (0.49%)

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  • 21

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ADAP

Adaptimmune

$0.71

-0.0959 (-11.87%)

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CELG

Celgene

$110.02

-0.01 (-0.01%)

, BMY

Bristol-Myers

$58.61

0.11 (0.19%)

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CELG

Celgene

$110.02

-0.01 (-0.01%)

BMY

Bristol-Myers

$58.61

0.11 (0.19%)

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  • 18

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ETNB

89bio

$26.03

3.03 (13.17%)

, YAYO

YayYo

$3.65

-0.29 (-7.36%)

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$26.03

3.03 (13.17%)

YAYO

YayYo

$3.65

-0.29 (-7.36%)

CAN

Canaan

$0.00

(0.00%)

SITM

SiTime

$0.00

(0.00%)

BABA

Alibaba

$185.44

2.75 (1.51%)

YXR

YX Asset Recovery

$0.00

(0.00%)

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WFC

Wells Fargo

$53.80

0.3 (0.56%)

, AAPL

Apple

$265.73

3.07 (1.17%)

10:01
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Berkshire Hathaway inactive with record cash hoard, Barron's says »

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WFC

Wells Fargo

$53.80

0.3 (0.56%)

AAPL

Apple

$265.73

3.07 (1.17%)

OXY

Occidental Petroleum

$38.94

1.18 (3.13%)

BRK.B

Berkshire Hathaway

$219.74

0.38 (0.17%)

BRK.A

Berkshire Hathaway

$329,361.11

266.11 (0.08%)

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  • 14

    Jan

DIS

Disney

$144.63

-2.56 (-1.74%)

09:43
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11/16
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Disney+ may not be able to hold onto huge number of subs, Barron's says »

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MDT

Medtronic

$112.11

2.9 (2.66%)

09:27
11/16/19
11/16
09:27
11/16/19
09:27
Periodicals
Medtronic shares 'could rise even more,' Barron's says »

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  • 19

    Nov

BR

Broadridge

$119.80

0.485 (0.41%)

09:18
11/16/19
11/16
09:18
11/16/19
09:18
Periodicals
Broadridge a defensive name that can withstand slowdown, Barron's says »

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MCD

McDonald's

$193.95

-0.02 (-0.01%)

, MDT

Medtronic

$112.11

2.9 (2.66%)

09:07
11/16/19
11/16
09:07
11/16/19
09:07
Periodicals
Barron's suggests dividend stocks for retirement savers »

In this week's…

MCD

McDonald's

$193.95

-0.02 (-0.01%)

MDT

Medtronic

$112.11

2.9 (2.66%)

KO

Coca-Cola

$52.67

0.03 (0.06%)

PRU

Prudential

$93.61

0.82 (0.88%)

SYF

Synchrony

$37.05

0.34 (0.93%)

KEY

KeyCorp

$18.96

0.1 (0.53%)

T

AT&T

$39.49

0.53 (1.36%)

AMGN

Amgen

$220.84

2.29 (1.05%)

CSCO

Cisco

$45.10

0.18 (0.40%)

RCL

Royal Caribbean

$117.91

2.69 (2.33%)

MRK

Merck

$84.89

0.33 (0.39%)

JNJ

Johnson & Johnson

$134.97

3.99 (3.05%)

MSFT

Microsoft

$149.95

1.89 (1.28%)

JPM

JPMorgan

$129.51

0.83 (0.65%)

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