Fly News Breaks for June 10, 2019
Jun 10, 2019 | 06:20 EDT
Stephens analyst John Campbell double upgraded Redfin (RDFN) to Overweight from Underweight and raised his price target for the shares to $23 from $18. The analyst this morning also downgraded Realogy Holdings (RLGY) to Equal Weight from Overweight. The recent pullback in Redfin shares has brought a "very favorable" near-term setup as the company lays the groundwork for a more e-commerce type offering, Campbell tells investors in a research note. Many of the company's top markets are in the process of recovering from a tough in the second half of 2018, adds the analyst. As a result, he sees improved operating results moving forward.
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