UPDATE: Susquehanna Starts Redfin Corp. (RDFN) at Neutral

Susquehanna analyst Shyam Patil initiates coverage on Redfin Corp. (NASDAQ: RDFN) with a Neutral rating and a price target of $60.00.

The analyst comments "We believe that internet penetration in real estate will dramatically increase, and RDFN will be a key beneficiary. The company is well-positioned to be a winner in the online real estate category, and its measured approach to iBuying should generate success. However, we view the risk/reward as balanced at current levels."

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 $56.15 yesterday.

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