Wedbush Starts Realogy (RLGY) at Neutral
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Wedbush initiates coverage on Realogy (NYSE: RLGY) with a Neutral rating and a price target of $28.50.
Analyst Jason Weaver commented, "We are initiating coverage of RLGY at NEUTRAL with a $28.50 price target. As the largest supplier of residential real estate brokerage services in the United States, RLGY is highly leveraged to the volumes and prices of existing home sales. Our rating reflects the ongoing market constraint on credit availability hampering home demand, which is likely to remain until we see meaningful mortgage regulatory reform under a new presidential administration."
Shares of Realogy closed at $26.51 yesterday.
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