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Fly News Breaks for February 13, 2020
RDFN
Feb 13, 2020 | 07:53 EDT
RBC Capital analyst Mark Mahaney raised his price target on Redfin to $31 and kept his Outperform rating after its above-consensus Q4 results and Q1 guidance. The analyst notes that Redfin Now, though still financially uncertain, drove the upside as gross profit growth surged and gross margins expanded in all 3 of the company's segments. Mahaney also points to Redfin's RE services revenue growth accelerating to 31%.