Stephens Reiterates Overweight Rating on Redfin Corp. (RDFN), Sees Attractive Buying Window

Stephens analyst John Campbell reiterated an Overweight rating and $24.00 price target on Redfin Corp. (NASDAQ: RDFN).

The analyst comments "Amidst what appears to be a clear path for accelerating fundamentals (many of its key end markets rebounding, rates dropping, easier comps in sight) and several recent strategic moves that have enhanced its market position/value proposition, RDFN has underperformed the market by a wide mark (~1,300bps over the last month). We believe that much of this weakness has been driven by a down draft effect from its broader industry brethren, mainly Zillow and Realogy, both of which are dealing with their own company-specific challenges. In our view, this unnecessary pullback combined with the favorable NT set up and its promising recent company pivots creates an ideal buying window for investors."

For an analyst ratings summary and ratings history on Redfin Corp. click here. For more ratings news on Redfin Corp. click here.

Shares of Redfin Corp. closed at $16.52 yesterday.

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